By Andrea Heisinger
New York, May 18 - Beckman Coulter, Inc. priced $500 million of senior notes (Baa3/BBB/) in two tranches Monday, according to an FWP filing with the Securities and Exchange Commission.
The $250 million of 6% six-year notes priced at 99.629 to yield 6.074%, or Treasuries plus 400 basis points.
The $250 million of 7% 10-year notes priced at 99.471 to yield 7.074%, or Treasuries plus 387.5 bps.
Both tranches have a make-whole call at Treasuries plus 50 bps. They feature a change-of-control put of 101%.
Bookrunners were Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. Passive bookrunner was Banc of America Securities LLC.
Co-managers were Scotia Capital, Wedbush Morgan Securities, Wachovia Capital Markets and Standard Chartered Bank.
Proceeds will be used to fund a portion of the purchase price of the acquisition of Olympus Diagnostic Systems. Pending this, proceeds may be used for short-term investments.
The biomedical testing company is based in Fullerton, Calif.
| Issuer: | Beckman Coulter, Inc.
|
| Issue: | Senior notes
|
| Total amount: | $500 million
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc. (active), Banc of America Securities LLC (passive)
|
| Co-managers: | Scotia Capital, Wedbush Morgan Securities, Wachovia Capital Markets, Standard Chartered Bank
|
| Change-of-control put: | 101%
|
| Trade date: | May 18
|
| Settlement date: | May 21
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
|
|
| Six-year notes
|
| Amount: | $250 million
|
| Maturity: | June 1, 2015
|
| Coupon: | 6%
|
| Price: | 99.629
|
| Yield: | 6.074%
|
| Spread: | Treasuries plus 400 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
|
|
| 10-year notes
|
| Amount: | $250 million
|
| Maturity: | June 1, 2019
|
| Coupon: | 7%
|
| Price: | 99.471
|
| Yield: | 7.074%
|
| Spread: | Treasuries plus 387.5 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
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