Thermo Fisher sets price, redemption date for floaters due 2023, 2024

By Mary-Katherine Stinson

Lexington, Ky., Aug. 8 – Thermo Fisher Scientific Inc. updated its plans to redeem two series of floating-rate notes, according to an 8-K filing with the Securities and Exchange Commission.

The outstanding $500 million of floating-rate senior notes due Oct. 18, 2023 and $500 million of floating-rate senior notes due Oct. 18, 2024 will be redeemed at par on Aug. 18.

Accrued interest will also be paid.

The 2023 notes were bearing interest at 5.42258% and the 2024 notes at 5.56258% annually as of July 18.

As previously reported, the company will fund the redemption with proceeds from a new $2.95 billion four-tranche senior notes issue which priced on Aug. 7 and is scheduled to close on Aug. 10.

Thermo Fisher is a Waltham, Mass.-based scientific company.

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