New Issue: Hologic prices $350 million eight-year notes at par to yield 4 3/8%

By Paul A. Harris

Portland, Ore., Oct. 4 – Hologic, Inc. priced a $350 million issue of eight-year senior notes (Ba3/BB-) at par to yield 4 3/8% in a quick-to-market transaction on Wednesdays, according to a syndicate source.

The yield printed at the tight end of yield talk that had been set in the 4˝% area.

Goldman Sachs & Co. was the left bookrunner. BofA Merrill Lynch, JP Morgan Securities LLC, MUFG and Citigroup Global Markets Inc. were the joint bookrunners.

The Marlborough, Mass.-based medical technology company plans to use the proceeds to refinance its convertible notes and for general corporate purposes.

Hololgic is primarily focused on women’s health.

Issuer:	Hologic, Inc.
Amount:	$350 million
Maturity:	Oct. 15, 2025
Securities:	Senior notes
Left bookrunner:	Goldman Sachs & Co.
Joint bookrunners:	BofA Merrill Lynch, JP Morgan Securities LLC, MUFG, Citigroup Global Markets Inc.
Senior co-managers:	HSBC, DNB Markets, SMBC Nikko, Wells Fargo Securities LLC and Morgan Stanley & Co.
Co-managers:	Fifth Third Bank, TD Securities, KeyBanc Capital Markets, Scotia Capital, Mizuho Securities, PNC Capital Markets, Citizens Bank, Janney Montgomery Scott
Coupon:	4 3/8%
Price:	Par
Yield:	4 3/8%
Spread:	212 bps
First call:	Make-whole call at Treasuries plus 50 bps until Oct. 15, 2020, then callable at 102.188
Equity clawback:	35% at 104.375 until Oct. 15, 2020
Trade date:	Oct. 4
Settlement date:	Oct. 10
Ratings:	Moody’s: Ba3
	S&P: BB-
Distribution:	Rule 144A and Regulation S for life
Price talk:	4˝% area
Marketing:	Quick to market

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