PerkinElmer prices $500M notes offering

By Michelle Lang

Vertex gets European committee nod [May 25, 2012]

EMD Millipore taps John Sweeney to head bio unit [May 25, 2012]

Soteira receives $375K in debt financing [May 25, 2012]

MIT’s needleless injection draws interest from Sanofi [May 25, 2012]

Following a September buyout of Hopkinton’s Caliper Life Sciences Inc., PerkinElmer Inc. has announced it priced a senior notes offering at $500 million today, with plans to apply the proceeds to the acquisition costs.

Waltham-based PerkinElmer (NYSE:PKI), a life sciences instrumentation firm, agreed to pay about $600 million cash to buy Caliper. As part of the deal, Caliper CEO Kevin Hrusovsky was expected to join the PerkinElmer senior leadership.

The senior notes offering, intended to close on Oct. 25, is using as its joint book-running managers Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc. and Deutsche Bank Securities Inc.

In September, after the Caliper acquisition news, Moody’s Investors Service said it could downgrade a rating covering $650 million of PerkinElmer’s debt, citing the company’s weakening liquidity position with its recent string of acquisitions. In addition to Caliper, PerkinElmer also agreed to pay $220 million to buy both life sciences software firm CambridgeSoft Corp. and ArtusLabs Inc. of Durham, N.C.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.