Thermo Fisher accepts tenders for 95.6% of 2.5% convertibles

By Jennifer Chiou

New York, Dec. 18 - Thermo Fisher Scientific, Inc. announced that it accepted tenders for $282,334,000, or 95.6%, of its $295.36 million of 2.5% convertible senior notes due 2023 in the any-and-all offer that wrapped at midnight ET on Thursday.

The offer began on Nov. 13.

For each $1,000 principal amount, Thermo Fisher Scientific said it will pay a cash purchase price of $2,072.4743, which is equal to the volume-weighted average price of its stock multiplied by 42.1372 - the number of company shares that each note is convertible into - plus $56.50 in cash. The purchase price was to be at least $1,474.802.

The company said it will also pay accrued interest. Settlement was slated for Friday.

The VWAP of $47.8431 was calculated during the 21 consecutive trading days ending on the expiration date of the offer.

Goldman, Sachs & Co. was the dealer manager (800 828-3182 or call collect 212 902-5183). Global Bondholder Services Corp. was the depositary and the information agent (866 540-1500 or call collect 212 430-3774).

As already reported, the full redemption of the company's $300 million of 6.75% senior subordinated notes due 2014 was to occur on Thursday at a price of 103.375 plus accrued interest.

The Waltham, Mass., company provides scientific products and services and manufactures analytical instruments.

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