New Issue: Alere prices upsized $400 million 8 5/8% eight-year notes at par

By Paul A. Harris

St. Louis, Sept. 15 - Alere Inc. priced an upsized $400 million issue of eight-year senior subordinated notes (B3/B-/) at par to yield 8 5/8% on Wednesday, according to an informed source.

The yield printed at the tight end of the 8¾% area price talk.

The timing of the transaction was moved ahead by one day. The deal was originally expected to price on Thursday.

Jefferies & Co., Goldman Sachs & Co. and Citigroup Global Markets Inc. were the joint bookrunners for the deal, which was upsized from $350 million.

Proceeds will be used for working capital and for general corporate purposes.

Alere is a Waltham, Mass.-based medical products and services company.

Issuer:	Alere Inc.
Amount:	$400 million, increased from $350 million
Maturity:	Oct. 1, 2018
Securities:	Senior subordinated notes
Bookrunners:	Jefferies & Co., Goldman Sachs & Co., Citigroup Global Markets Inc.
Co-managers:	BMO Capital Markets, Leerink Swann
Coupon:	8 5/8%
Price:	Par
Yield:	8 5/8%
Spread:	631 bps
Call features:	Make-whole call at Treasuries plus 50 bps until Oct. 1, 2014, then callable at 104.313, 102.156, par on and after Oct. 1, 2016
Equity clawback:	35% at 108.625 until Oct. 1, 2013
Change-of-control put:	101%
Trade date:	Sept. 15
Settlement date:	Sept. 21
Ratings:	Moody's: B3
	Standard & Poor's: B-
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	8¾% area
Marketing:	Brief roadshow

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