New Issue: Fisher Scientific downsizes 10-year notes to $150 million, yield 8%

By Paul A. Harris

St. Louis, Aug. 6 - Fisher Scientific International Inc. priced a downsized offering of $150 million senior subordinated notes due Sept. 1, 2013 (B2/B+) at par Wednesday to yield 8%, according to a syndicate source.

The deal was reduced from $200 million. Price talk was 7¾%-8%, revised from 7¼%-7½%.

JP Morgan was the bookrunner on the Rule 144A deal. Credit Suisse First Boston and Lazard Freres were co-managers.

Proceeds will be used to fund Fisher's acquisition of Perbio Scientific AB.

The issuer is a Hampton, N.H. maker of laboratory equipment.

Issuer:	Fisher Scientific International
Amount:	$150 million (decreased from $200 million)
Maturity:	Sept. 1, 2013
Security description:	Senior subordinated notes
Bookrunner:	JP Morgan
Co-managers:	Credit Suisse First Boston, Lazard Frers
Coupon:	8%
Price:	Par
Yield:	8%
Call features:	T+50 basis points make-whole call until Sept. 1, 2008, then at 104, 102.667, 101.333, par on Sept. 1, 2011 and thereafter
Equity clawback:	Until Sept. 1, 2006 for 40% at 108.0
Settlement date:	Aug. 20, 2003
Ratings:	Moody's: B2
	Standard & Poor's: B+
Rule 144A Cusip:	338032AQ8
Price talk:	7¾%-8% (revised from 7¼%-7½%)

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