By Aleesia Forni
New York, April 4 – Thermo Fisher Scientific Inc. was in the market with a $1 billion offering of 3% seven-year senior notes (Baa3/BBB/BBB), which priced at Treasuries plus 155 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.
The notes sold at 99.512 to yield 3.078%.
Pricing came at the tight side of guidance and tighter than initial price thoughts in the 180 bps to 185 bps range over Treasuries.
BofA Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the bookrunners.
Proceeds will be used to redeem $1 billion of 2.25% senior notes due Aug. 15, 2016.
Thermo Fisher is a Waltham, Mass.-based science technology company.
| Issuer: | Thermo Fisher Scientific Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | April 15, 2023
|
| Bookrunners: | BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Coupon: | 3%
|
| Price: | 99.512
|
| Yield: | 3.078%
|
| Spread: | Treasuries plus 155 bps
|
| Make-whole call: | Treasuries plus 25 bps prior to Feb. 15, 2023, then callable at par
|
| Trade date: | April 4
|
| Settlement date: | April 13
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 160 bps area, tightened from Treasuries plus 180 bps to 185 bps
|
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