PerkinElmer plans to sell 10-, 30-year senior notes; talk emerges

By Devika Patel and Cristal Cody

Knoxville, Tenn., March 4 – PerkinElmer, Inc. is expected to price dollar-denominated fixed-rate senior notes (Baa3/BBB/BBB) in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The offering will include notes due March 15, 2031 talked with a yield in the 130 basis points area over Treasuries and notes due March 15, 2051 with price talk in the Treasuries plus 155 bps area, according to a market source.

The notes feature a make-whole call and then a par call.

BofA Securities, Inc. and J.P. Morgan Securities LLC are active bookrunners, and Wells Fargo Securities LLC is passive.

Proceeds will be used to repay approximately $561 million under the company’s credit facility and the remainder to repay at maturity a portion of its €300 million of 0.6% senior notes due 2021.

The technology company is based in Waltham, Mass.

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