Fisher Scientific International plans to issue new debt and use its existing credit to fund the $714 million acquisition of Sweden-based Perbio Science, a manufacturer of technologies, products and services to the life science and biotechnology industries. A Fisher spokesperson said the wholesale scientific equipment company currently has a bridge loan commitment that will be replaced by a permanent credit facility and new public debt before closing the acquisition.
The company's current facility, put in place last February, comprises a $175 million revolver priced at LIBOR plus 23/4%, and a $400 million "B" term loan priced at LIBOR plus 21/2%. The facility is led by J.P. Morgan, Deutsche Bank and Credit Suisse First Boston. The spokesperson would not confirm if the trio will lead Fisher's new financing and officials from the three banks declined to comment.