16th Sep 2026 09:20
Smith & Nephew PLC - Hertfordshire, England-based medical technology, focused on repair, regeneration and replacement of soft and hard tissue - Prices tender offer for up to USD250 million of its 2.032% senior debt notes due in 2030, of which there is USD900.0 million outstanding. The tender offer will be at USD878.90 for each USD1,000 in principal amount. S&N uses five-year US Treasury notes as reference for a reference yield of 4.83%. The tender offer is being managed by Merrill Lynch International.
Last week, S&N priced USD700.0 million in debt notes due in 2036 with a 5.75% coupon. At the time, the company had said the USD690.9 million in net proceeds from the bond issue would be used in a tender for the 2030 senior notes, as well as for general corporate purposes.
Current stock price: 1,024.50 pence, down 1.3% on Wednesday morning in London
12-month change: down 26%
By Tom Waite, Alliance News editor
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