New Issue: Apogent Technologies sells $250 million 10-year notes to yield 6½%

By Paul A. Harris

St. Louis, May 22 - Apogent Technologies Inc. sold $250 million of senior subordinated notes due May 15, 2013 (Ba2/BB+) at par Thursday to yield 6½%, according to a syndicate source.

Price talk was 6½%-6¾%.

Lehman Brothers, Credit Suisse First Boston and JP Morgan were joint bookrunners.

Proceeds from the Rule 144A deal will be used to help repurchase up to 15 million shares.

The issuer is a Portsmouth, N.H. manufacturer of clinical diagnostic and life science research products.

Issuer:	Apogent Technologies Inc.
Amount:	$250 million
Maturity:	May 15, 2013
Security description:	Senior subordinated notes
Bookrunners:	Lehman Brothers, Credit Suisse First Boston, JP Morgan (joint)
Coupon:	6½%
Price:	Par
Yield:	6½%
Spread:	313 basis points
Call features:	Callable on May 15, 2008 at 103.25, then at 102.167, 101.083, declining to par on May 15, 2011 and thereafter
Equity clawback:	Until May 15, 2006 for 35% at 106.50
Settlement date:	June 2, 2003 (T+6)
Ratings:	Moody's: Ba2
	Standard & Poor's: BB+
Rule 144A Cusip:	03760AAF8
Price talk:	6½%-6¾%

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