New Issue: Alere prices $425 million eight-year notes at par to yield 6 3/8%

By Paul A. Harris

Portland, Ore., June 11 – Alere, Inc. priced a $425 million issue of eight-year senior subordinated notes (Caa1/CCC+) at par to yield 6 3/8% on Thursday, according to a market source.

The yield printed at the tight end of yield talk in the 6½% area; preliminary guidance was 6½% to 6¾%.

J.P. Morgan Securities LLC, Goldman Sachs & Co., DnB NOR Markets Inc. and RBC Capital Markets were the joint bookrunners.

The Waltham, Mass.-based provider of medical diagnostic services plans to use the proceeds to redeem its $400 million of outstanding 8 5/8% senior subordinated notes due 2018.

Issuer:	Alere, Inc.
Amount:	$425 million
Maturity:	June 1, 2023
Securities:	Senior subordinated notes
Bookrunners:	J.P. Morgan Securities LLC, Goldman Sachs & Co., DnB NOR Markets Inc., RBC Capital Markets
Co-managers:	RBS Securities Inc., HSBC Bank
Coupon:	6 3/8%
Price:	Par
Yield:	6 3/8%
Spread:	410 bps
First call:	June 1, 2018 at 104.781
Trade date:	June 11
Settlement date:	June 24
Ratings:	Moody's: Caa1
	Standard & Poor's: CCC+
Distribution:	Rule 144A and Regulation S for life
Price talk:	6½% area
Marketing:	Roadshow

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