Thermo Fisher tenders for 2.5% convertibles, calls all 6¾% notes

By Jennifer Chiou

New York, Nov. 13 - Thermo Fisher Scientific, Inc. announced the start of a cash tender offer for any and all of its $295.36 million of 2.5% convertible senior notes due 2023 as well as the full redemption of its $300 million of 6¾% senior subordinated notes due 2014.

The 6¾% notes will be redeemed on Dec. 17 at a price of 103.375 plus accrued interest.

The tender offer will end at midnight ET on Dec. 17.

For each $1,000 principal amount, Thermo Fisher Scientific said it will pay a cash purchase price equal to the volume-weighted average price multiplied by 42.1372, which is the number of company shares that the notes are convertible into, plus $56.50 in cash. The purchase price will be at least $1,474.802.

The company said it will also pay accrued interest.

The VWAP will be calculated during the 21 consecutive trading days ending on the expiration date of the offer.

Goldman Sachs & Co. is the dealer manager (800 828-3182 or call collect 212 902-5183). Global Bondholder Services Corp. is the depositary and the information agent (866 540-1500 or call collect 212 430-3774).

The Waltham, Mass., company provides scientific products and services and manufactures analytical instruments.

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