New Issue: Fisher Scientific sells $250 million convert to yield 2.5%, up 36%

By Ronda Fears

Nashville, July 1 - Fisher Scientific International Inc. sold $250 million of 20.25-year convertibles at par to yield 2.5% with a 36% initial conversion premium, via lead manager Goldman Sachs.

The Rule 144A deal sold at the cheap end of guidance.

There is dividend protection by way of a conversion ratio adjustment.

The company, which makes laboratory workstations and clinical, educational and other safety products, did not specify a use of proceeds.

Terms of the new deal are:

Issuer: Fisher Scientific International Inc.

Issue:	Rule 144A convertible senior notes
Lead manager:		Goldman Sachs
Amount	$250 million
Greenshoe:	$50 million
Maturity:	Oct. 1, 2023
Coupon:	2.5%
Price:	par
Yield:	2.5%
Conversion premium:	36%
Conversion price:	$47.46
Conversion ratio:	21.0704
Call:	noncallable through Oct. 1, 2010
Put:	at Oct. 1, 2010, Oct. 1, 2015 and Oct. 1, 2020
Price Talk:	2.0-2.5%, up 36-42%
Pricing Date:	July 1, before the open
Settlement:	July 7

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