Hologic to price $1 billion seven-year notes; Thursday pricing seen

By Paul Deckelman

New York, June 18 – Hologic, Inc. plans to sell $1 billion of new seven-year senior notes (expected ratings B1/BB), high-yield syndicate sources said Thursday.

The notes are being shopped around to potential investors via an 11 a.m. ET conference call, with pricing on the deal expected later Thursday.

The Rule 144A and Regulation S for life offering is being brought to market via joint bookrunning managers Goldman Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., and MUFG.

DnB nor Markets Inc., HSBC Securities (USA) Inc. and SMBC Nikko Securities America Inc. are the senior co-managers on the deal.

Fifth Third Securities Inc. Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, KeyBanc Capital Markets Inc., RBS Securities Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC are co-managers for the offering.

The notes will have three years of call protection.

Hologic, a Bedford, Mass.-based developer, manufacturer and supplier of premium diagnostic products, medical imaging systems and surgical products, plans to use the proceeds from the bond offering plus available cash to redeem all of its outstanding 6¼% senior notes due 2020 at an aggregate redemption price of $1,031,000,000.

In addition, the company will make a final $31.25 million payment on the 6¼% notes for interest accrued to Aug. 1. Pending the application of the net proceeds, it may invest the net proceeds in short-term securities.

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