Published on 11/10/2021 in the Prospect News Green Finance Daily.
New Issue: Thermo Fisher sells €550 million 0% sustainability senior notes due 2025
Chicago, Nov. 10 – Thermo Fisher Scientific (Finance I) BV sold €550 million of 0% senior notes due Nov. 18, 2025 (Baa1/BBB+/BBB+) that were marked sustainable, according to a 424B5 filing with the Securities and Exchange Commission.
The notes are guaranteed by Thermo Fisher Scientific Inc.
The tranche was part of a larger €2.8 billion total offering that included conventional bonds.
The notes priced with a 99.868 discount to yield 0.033%.
Alternatively, they priced with a spread of 23 basis points over mid-swaps.
There is a make-whole call at Bunds plus 10 basis points until Oct. 18, 2025. The notes can be called at par after that date.
Barclays, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH were joint bookrunners.
Proceeds will be used to finance, or refinance, in whole or in part, green or social eligible investments.
Thermo Fisher is a Waltham, Mass.-based science technology company.
| Issuer: | Thermo Fisher Scientific (Finance I) BV
|
| Guarantor: | Thermo Fisher Scientific Inc.
|
| Issue: | Sustainability notes
|
| Amount: | €550 million
|
| Maturity: | Nov. 18, 2025
|
| Bookrunners: | Barclays, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH
|
| Co-managers: | Deutsche Bank, HSBC, MUFG, SMBC Nikko, U.S. Bancorp, Wells Fargo Securities, Loop Capital Markets, BNY Mellon Capital Markets, LLC, KeyBanc Capital Markets, Nordea, RBC Capital Markets, Scotiabank, Academy Securities, AmeriVet Securities, Blaylock Van, LLC and R. Seelaus & Co., LLC
|
| Sustainability structuring agent: | Barclays
|
| Trustee: | Bank of New York Mellon Trust Co., NA
|
| Counsel to issuer: | Wilmer Cutler Pickering Hale, Dorr LLP
|
| Counsel to bookrunners: | Sidley Austin LLP
|
| Coupon: | 0%
|
| Price: | 99.868
|
| Yield: | 0.033%
|
| Spread: | Mid-swaps plus 23 bps
|
| Call features: | Make-whole call at Bunds plus 10 bps until Oct. 18, 2025; thereafter at par
|
| Change of control: | At 101
|
| Trade date: | Nov. 9
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| Settlement date: | Nov. 18
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| ISIN: | XS2407914394
|
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