8-KOther EventsExhibits & Filings

THERMO FISHER SCIENTIFIC INC. 8-K Report, Corporate Update (Apr 5, 2016)

Filed April 5, 2016For Securities:TMO

Summary

Thermo Fisher Scientific Inc. (TMO) announced on April 4, 2016, that it entered into an underwriting agreement for the issuance and sale of $1 billion aggregate principal amount of 3.000% Senior Notes due 2023. This offering is being conducted under a registration statement filed with the SEC. The company anticipates net proceeds of approximately $986.8 million after deducting underwriting discounts and estimated expenses. The primary purpose of this note issuance is to redeem the company's outstanding $1 billion of 2.250% senior notes due 2016, which are scheduled to mature on August 15, 2016. The redemption is planned for April 19, 2016. This move indicates proactive debt management and a strategic refinancing effort by Thermo Fisher Scientific.

Key Highlights

  • 1Thermo Fisher Scientific Inc. issued $1 billion in 3.000% Senior Notes due 2023.
  • 2The offering is a public offering conducted under a Form S-3 registration statement.
  • 3Net proceeds are estimated to be approximately $986.8 million.
  • 4The primary use of proceeds is to redeem the $1 billion of 2.250% senior notes due 2016.
  • 5The redemption of the 2016 notes is scheduled for April 19, 2016.
  • 6The company is proactively managing its debt by refinancing maturing obligations.

Frequently Asked Questions

The main purpose of issuing the new $1 billion in 3.000% Senior Notes due 2023 is to redeem the company's outstanding $1 billion of 2.250% senior notes due 2016.

The new notes have an aggregate principal amount of $1,000,000,000, carry a coupon rate of 3.000%, and mature in 2023. They will be issued under an indenture supplemented by a Twelfth Supplemental Indenture.

The existing 2.250% senior notes due 2016, which mature on August 15, 2016, will be redeemed on April 19, 2016.

Thermo Fisher Scientific expects to receive approximately $986.8 million in net proceeds after deducting the underwriting discount and estimated offering expenses.