Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
24 Fevereiro 2022 - 8:08AM
Edgar (US Regulatory)
Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-262737
Relating to the Preliminary Prospectus Supplement dated February 23, 2022
Bio-Rad Laboratories, Inc.
Pricing Term Sheet
February 23, 2022
$400,000,000 3.300% Senior Notes due 2027
$800,000,000 3.700% Senior Notes due 2032
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Issuer: |
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Bio-Rad Laboratories, Inc. (the Company) |
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Trade Date: |
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February 23, 2022 |
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Settlement Date*: |
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March 2, 2022 (T+5) |
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Security Title: |
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3.300% Senior Notes due 2027 (the 2027 Notes)
3.700% Senior Notes due 2032 (the 2032 Notes)
(together, the Notes) |
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Expected Ratings (Moodys/S&P/Fitch)**: |
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Baa2 (Stable) / BBB (Stable)/ BBB (Stable) |
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Baa2 (Stable) / BBB (Stable)/ BBB (Stable) |
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Principal Amount: |
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$400,000,000 |
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$800,000,000 |
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Maturity Date: |
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March 15, 2027 |
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March 15, 2032 |
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Interest Payment Dates: |
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Semi-annually on March 15 and September 15, commencing September 15, 2022 |
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Semi-annually on March 15 and September 15, commencing September 15, 2022 |
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Record Dates: |
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March 1 and September 1 |
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March 1 and September 1 |
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Coupon: |
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3.300% per annum |
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3.700% per annum |
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Benchmark Treasury: |
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UST 1.500% due January 31, 2027 |
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UST 1.875% due February 15, 2032 |
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Benchmark Treasury Price / Yield: |
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98-043⁄4; 1.895% |
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99-01; 1.982% |
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Spread to Benchmark Treasury: |
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T + 145 bps |
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T + 175 bps |
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Yield to Maturity: |
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3.345% |
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3.732% |
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Initial Price to Public: |
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99.792% |
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99.733% |
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Optional Redemption Provisions: |
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Make-Whole Call: UST + 25 bps Par Call: on or after February 15, 2027 |
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Make-Whole Call: UST + 30 bps Par Call: on or after December 15, 2031 |
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CUSIP / ISIN: |
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090572 AR9 / US090572AR99 |
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090572 AQ1 / US090572AQ17 |
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Joint Book-Running Managers: |
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Citigroup Global Markets Inc. Goldman
Sachs & Co. LLC J.P. Morgan Securities LLC BofA
Securities, Inc. HSBC Securities (USA) Inc. MUFG Securities
Americas Inc. Wells Fargo Securities, LLC |
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*We expect that delivery of the Notes will be made against payment therefor on or about March 2, 2022, which will be
the fifth business day following the date hereof (such settlement cycle being referred to as T+5). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market are required to settle in
two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade Notes prior to the second trading day preceding the date on which we deliver the Notes may be required, by virtue of the
fact that the Notes initially settle in T+5, to specify alternate settlement arrangements at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to their date of delivery hereunder
should consult their advisers.
**Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision
or withdrawal at any time. See Risk FactorsRisks Related to the OfferingA downgrade of our credit ratings could adversely impact your investment in the notes. in the Companys preliminary prospectus supplement dated
February 23, 2022.
The Company has filed a registration statement (including a prospectus) and a related preliminary prospectus supplement
with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement, the accompanying prospectus in that registration
statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company,
any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the related preliminary prospectus supplement if you request it by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Goldman Sachs & Co. LLC toll-free at 1-800-419-2595 or J.P. Morgan Securities LLC toll-free at 1-866-803-9204.
This pricing term sheet supplements, and should be read in conjunction with, the Companys preliminary prospectus supplement dated
February 23, 2022 and the accompanying prospectus dated February 15, 2022 and the documents incorporated by reference therein.
Any
legends, disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of this communication having
been sent via Bloomberg or another system.
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