1st Oct 2021 08:35
(Alliance News) - Medical products supplier ConvaTec Group PLC on Friday priced an offering of USD500 million senior notes due 2029 intended to be issued by its subsidiary 180 Medical Inc.
180 Medical is a catheters and urologic medical supplies distributor in the US.
The notes will bear interest at a rate of 3.875% per annum and will be issued at a price of 100% of the nominal amount thereof. The issuance and settlement of the notes is expected on Thursday next week, subject to customary closing conditions.
The Anglo-American company said it intends to use the proceeds from the offering to prepay a portion of borrowings.
FTSE 250-listed ConvaTec shares were trading 0.8% lower in London on Friday morning at 214.30 pence each.
By Evelina Grecenko; [email protected]
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