PerkinElmer Prices Offering of Senior Notes
September 10 2019 - 4:39PM
Business Wire
PerkinElmer, Inc. (NYSE: PKI), a global leader committed to
innovating for a healthier world, announced today that it has
priced an offering of $850 million aggregate principal amount of
3.300% Senior Notes due 2029 at an issue price of 99.670% of the
principal amount.
The issuance of the notes is expected to close on September 12,
2019, subject to customary closing conditions. The notes will pay
interest on a semi-annual basis.
PerkinElmer plans to use approximately $770 million of the net
proceeds of the offering to repay all amounts outstanding under its
senior unsecured revolving credit facility (the “Credit Facility”).
It plans to replace the Credit Facility with a new $1.0 billion,
five-year senior unsecured revolving credit facility with Bank of
America, N.A. as administrative agent. PerkinElmer expects to use
the remaining net proceeds of the offering, together with
borrowings under the Credit Facility or the replacement credit
facility, to redeem its 5.00% Senior Unsecured Notes due 2021 (the
“2021 Notes”). If PerkinElmer does not redeem the 2021 Notes, it
expects to use any remaining net proceeds from the offering for
general corporate purposes.
The joint book-running managers for the offering are J.P. Morgan
Securities LLC and BofA Securities, Inc.
The offering is being made pursuant to an effective registration
statement on Form S-3 (including a prospectus) filed with the U.S.
Securities and Exchange Commission (“SEC”). Prospective investors
should read the prospectus forming a part of that registration
statement and the prospectus supplement related to the offering and
the other documents that PerkinElmer has filed with the SEC for
more complete information about the company and this offering.
These documents are available at no charge by visiting EDGAR on the
SEC website at www.sec.gov. Alternatively, copies of the prospectus
supplement and the accompanying prospectus relating to the offering
can be obtained by calling one of the joint book-running managers
at the following: J.P. Morgan Securities LLC collect at
1-212-834-4533 or BofA Securities, Inc. toll-free at
1-800-294-1322.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes, nor shall there be any
offer, solicitation or sale of the notes in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such jurisdiction. This press release shall not constitute a notice
of redemption with respect to the 2021 Notes.
About PerkinElmer
PerkinElmer, Inc. is a global leader focused on innovating for a
healthier world. The Company reported revenue of approximately $2.8
billion in 2018, has about 13,000 employees serving customers in
more than 180 countries, and is a component of the S&P 500
Index.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements about PerkinElmer’s
intended use of proceeds, including its plans to redeem the 5%
Senior Unsecured Notes due in 2021. These statements involve a
number of risks and uncertainties that could cause actual results
to differ materially from currently anticipated results, including
risks and uncertainties relating to capital markets conditions and
completion of the offering. Additional important factors and
information regarding PerkinElmer’s business that could cause
actual results to differ materially from those indicated by such
forward-looking statements are set forth in the prospectus and
preliminary prospectus supplement dated September 10, 2019 related
to the offering, which is on file with the SEC and available in the
“Investors” section of the Company’s website under the heading “SEC
Filings,” and the documents incorporated by reference into the
prospectus and prospectus supplement. While PerkinElmer may elect
to update forward-looking statements at some point in the future,
the Company specifically disclaims any obligation to do so, even if
circumstances change and, therefore, you should not rely on these
forward-looking statements as representing the Company’s views as
of any date subsequent to today.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190910006112/en/
Investor Relations: Bryan Kipp, 781-663-5583
bryan.kipp@perkinelmer.com Media: Brian Willinsky, 781-663-5728
brian.willinsky@perkinelmer.com
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