By Wendy Van Sickle
Columbus, Ohio, Sept. 10 – PerkinElmer, Inc. priced $850 million of 3.3% 10-year senior notes (Baa3/BBB/BBB) at 99.67 on Tuesday, according to a press release.
J.P. Morgan Securities LLC and BofA Securities, Inc. are the bookrunners.
The notes will have a make-whole call and then will become callable at par.
Proceeds will be used to repay about $770 million of borrowings under the company’s credit facility, which it plans to replace with a $1 billion credit facility, and to redeem its 5% notes due 2021. If PerkinElmer does not redeem the 2021 notes, it expects to use any remaining net proceeds from the offering for general corporate purposes.
The technology company is based in Waltham, Mass.
| Issuer: | PerkinElmer, Inc.
|
| Issue: | Senior notes
|
| Amount: | $850 million
|
| Maturity: | Nov. 15, 2021
|
| Bookrunners: | J.P. Morgan Securities LLC and BofA Securities, Inc.
|
| Coupon: | 3.3%
|
| Price: | 99.67
|
| Call: | Make-whole call, then at par
|
| Trade date: | Sept. 10
|
| Settlement date: | Sept. 12
|
| Ratings: | Moody's: Baa3
|
| S&P: BBB
|
| Fitch: BBB
|
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