Thermo Fisher prices €2.1 billion notes offering in two tranches

WALTHAM, Mass. - Thermo Fisher Scientific Inc. (NYSE:TMO) announced Monday that its indirect wholly-owned finance subsidiary, Thermo Fisher Scientific (Finance I) B.V., has priced a €2.1 billion notes offering consisting of two tranches. The company, currently valued at $220.5 billion in market capitalization, has maintained strong financial health with an overall "GOOD" rating according to InvestingPro metrics.

The offering includes €1 billion of floating rate senior notes due 2027 and €1.1 billion of 3.628% senior notes due 2035, both priced at 100% of their principal amount. The floating rate notes will pay interest quarterly, while the fixed rate notes will pay interest annually.

The transaction is expected to close on or about December 1, 2025, subject to customary closing conditions. Thermo Fisher will fully and unconditionally guarantee the notes.

According to the press release statement, the company intends to use the net proceeds for general corporate purposes, which may include acquisitions, debt repayment and refinancing, working capital, capital expenditures, or repurchasing outstanding equity securities. The company may also temporarily invest the proceeds in short-term, liquid investments.

The joint book-running managers for the offering are Barclays Bank PLC, BNP PARIBAS, HSBC Continental Europe, and Morgan Stanley & Co. International plc.

The offering is being made pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission on February 24, 2025.

Thermo Fisher Scientific, which describes itself as "the world leader in serving science," reported annual revenue of over $40 billion. The company provides technologies, purchasing convenience, and pharmaceutical services through brands including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon, and PPD.

In other recent news, Thermo Fisher Scientific Inc. announced a significant development with its acquisition of Clario Holdings for $8.875 billion, aiming to bolster its presence in the clinical research market. This acquisition is expected to close by mid-2026, pending regulatory approvals. Additionally, Thermo Fisher’s financial strategy includes a newly authorized $5 billion share repurchase program, which will be conducted through open market or negotiated transactions. The company also declared a quarterly cash dividend of $0.43 per common share, payable on January 15, 2026.

Moody’s Ratings recently upgraded Thermo Fisher Scientific’s senior unsecured notes to A2, citing solid operating performance despite macroeconomic challenges. In regulatory news, the company received FDA clearance for its EXENT Analyser and Immunoglobulin Isotypes (GAM) Assay, a diagnostic system for multiple myeloma. These developments highlight Thermo Fisher’s ongoing efforts to expand its capabilities and enhance shareholder value.

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