Life Technologies Sells $1.5 Billion Of Senior Notes
February 22, 2010 (FinancialWire) — Life Technologies Corp. (NASDAQ: LIFE) has completed and settled an offering of $250 million aggregate principal amount of 3.375% senior notes due 2013 at an issue price of 99.953 percent; $500 million aggregate principal amount of 4.400% senior notes due 2015 at an issue price of 99.668 percent; and $750 million aggregate principal amount of 6.000% senior notes due 2020 at an issue price of 99.796 percent.
The notes will pay interest on a semi-annual basis.
Life said it will use the proceeds of the offering, together with cash on hand, to repay and retire outstanding indebtedness under the term loan A facility and the term loan B facility of the company’s credit agreement.
As of December 31, 2009, Life had $1.33 billion outstanding under the term loan A facility and $643 million outstanding under the term loan B facility.
California-based Life Technologies is a biotechnology tools company offering systems, consumables and services designed to enable researchers to accelerate scientific exploration.
Life Technologies was created by the combination of Invitrogen and Applied Biosystems.
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