Life Technologies Corporation (NASDAQ: LIFE) today announced it has
completed and settled the previously announced 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.
The proceeds of the offering will be used, together with cash on hand,
to repay and retire the 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, the company had $1.33 billion outstanding under
the term loan A facility and $643 million outstanding under the term
loan B facility.
Subject to the risk factors detailed in the Safe Harbor Statement
section of this release, fiscal year 2010 interest expense is now
expected to be between $110 million and $120 million, including
amortization of debt issuance costs. Full year non-GAAP earnings per
share guidance is still expected to be $3.30 - $3.50 as communicated on
the company’s fourth quarter and full year 2009 earnings call.