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Life Technologies Corporation. (2/19/10). "Press Release: Life Technologies Announces Completion of $1.5 Billion Senior Notes Offering". Carlsbad, CA.

Organisation Organisation Life Technologies Corporation (Nasdaq: LIFE)
  Group Life Technologies (Group)
Products Product investment banking
  Product 2 laboratory equipment and instruments
Index terms Index term credit
  Index term 2 financing
     
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.

Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such state or jurisdiction. The offering was made by means of a prospectus and related preliminary prospectus supplement as filed with the Securities and Exchange Commission.

About Life Technologies

Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of approximately $3.3 billion in 2009, employs approximately 9,000 people, has a presence in more than 160 countries, and possesses a rapidly growing intellectual property estate of approximately 3,900 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc. For more information on how we are making a difference please visit our website: www.lifetechnologies.com.

Safe Harbor Statement

This press release includes forward-looking statements about our anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to, financial projections, including revenue and non-GAAP earnings per share, momentum in 2010, plans to sustain and expand organic growth and increase operating margins, industry trends and Life Technologies' plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.

Life Technologies CorporationEileen Pattinson, 760-603-7208ir@lifetech.comRebecca Chambers, 760-268-7971Rebecca.Chambers@lifetech.com


   
Record changed: 2010-07-21

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