Thermo Fisher Scientific Prices Offering of Euro-Denominated Senior Notes

7/18/17

Thermo Fisher Scientific Inc. (NYSE: TMO) announced today that it has priced an offering of €2.6 billion aggregate principal amount of the following notes:

  • €500 million aggregate principal amount of its floating rate senior notes due 2019, at the issue price of 100.205% of their principal amount
  • €700 million aggregate principal amount of its 1.400% senior notes due 2026, at the issue price of 99.526% of their principal amount
  • €700 million aggregate principal amount of its 1.950% senior notes due 2029 (the"2029 notes"), at the issue price of 99.282% of their principal amount
  • €700 million aggregate principal amount of its 2.875% senior notes due 2037 (the "2037 notes") at the issue price of 99.760% of their principal amount.

The issuance of the notes is expected to close on or about July 24, 2017, subject to customary closing conditions. The floating rate notes will pay interest on a quarterly basis, and the fixed rate notes will pay interest on an annual basis.

Thermo Fisher intends to use all of the net proceeds of the offering to fund a portion of the consideration payable for its acquisition of Patheon N.V., including the repayment of indebtedness of Patheon N.V. to be assumed by Thermo Fisher, which is estimated to be approximately $7.2 billion in aggregate.

The Patheon acquisition is expected to close by the end of 2017, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals, the adoption of certain resolutions relating to the transaction at an Extraordinary General Meeting of Patheon N.V.'s shareholders and completion of Thermo Fisher's tender offer to acquire all of the issued and outstanding shares of Patheon N.V.

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