New Issue: Thermo Fisher Scientific prices $1.2 billion of five-, 10-year notes

By Wendy Van Sickle

Columbus, Ohio, Nov. 14 – Thermo Fisher Scientific Inc. priced a $1.2 billion two-part offering of senior notes (A3/A-/BBB+) on Monday, according to a market source and FWP filings with the Securities and Exchange Commission.

A $600 million tranche of 4.8% five-year notes priced at 99.96 to yield 4.809%, or a spread of 80 basis points over Treasuries.

Thermo Fisher sold $600 million of 4.95% 10-year notes at 99.797 to yield 4.976%, or a Treasuries plus 110 bps spread.

BofA Securities, Inc., Citigroup Global Markets Inc, Deutsche Bank Securities Inc., Barclays, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC were the bookrunners.

Proceeds will be used for general corporate purposes, which may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital and capital expenditures or the repurchase of outstanding equity securities. Proceeds may be temporarily invested in short-term, liquid investments until they are used for their ultimate purpose.

The company also mentioned it is using ¥109.1 billion from an offering at the end of October for general corporate purposes. There is also a current euro offering on Monday.

Thermo Fisher is a Waltham, Mass.-based science technology company.

Issuer:	Thermo Fisher Scientific Inc.
Amount:	$1.2 billion
Issue:	Senior notes
Bookrunners:	BofA Securities, Inc., Citigroup Global Markets Inc, Deutsche Bank Securities Inc., Barclays, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC
Co-managers:	Academy Securities, Inc., AmeriVet Securities, Inc., BNY Mellon Capital Markets, LLC, ING Financial Markets LLC, KeyBanc Capital Markets Inc., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, Roberts & Ryan Investments, Inc., R. Seelaus & Co., LLC, SMBC Nikko Securities America, Inc. and Scotia Capital (USA) Inc.
Trustee:	Bank of New York Mellon Trust Co., NA
Counsel to issuer:	Wilmer Cutler Pickering Hale and Dorr LLP and Linklaters LLP for Dutch law
Counsel to underwriters:	Sidley Austin LLP
Put:	At 101 in the event of a change of control
Trade date:	Nov. 14
Settlement date:	Nov. 21
Ratings:	Moody’s: A3
	S&P: A-
	Fitch: BBB+
Distribution:	SEC registered
Five-year notes
Amount:	$600 million
Maturity:	Nov. 21, 2027
Coupon:	4.8%
Price:	99.96
Yield:	4.809%
Spread:	Treasuries plus 80 bps
Call features:	Make-whole call before Oct. 21, 2027 at Treasuries plus 15 bps; thereafter at par
Cusip:	883556CT7
10-year notes
Amount:	$600 million
Maturity:	Nov. 21, 2032
Coupon:	4.95%
Price:	99.797
Yield:	4.976%
Spread:	Treasuries plus 110 bps
Call features:	Make-whole call before Aug. 21, 2032 at Treasuries plus 20 bps; thereafter at par
Cusip:	883556CU4

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