16th Feb 2017 15:10
News Release
London, 16 February 2017
For immediate release
SMITHS GROUP PLC LAUNCHES 10 YEAR €650m BOND OFFERING
Smiths Group plc (the "Company") today confirms the launch and pricing of a €650m bond offering (the "Notes"), pursuant to the Company's €2.5bn Euro Medium Term Note Programme, for general corporate funding purposes and to repay certain existing debt as it falls due.
The Notes, priced with a fixed coupon of 2.00%, will have a maturity in February 2027 and are expected to close on 23 February 2017. The Notes will be issued by the Company, guaranteed by Smiths Group International Holdings Limited, and will rank pari passu with all its other existing unsecured indebtedness.
Chris O'Shea, Chief Financial Officer, said: "I am delighted this 10 year bond issue was heavily oversubscribed by a wide range of quality long-term investors in our business. Building on the very successful 8 year bond issue in 2015, this refinancing further extends our debt maturity profile and reaffirms the strength of our balance sheet."
ENDS
Contact details
Investor enquiries
Andrew Lappin, Smiths Group
+44 (0)20 7004 1657
+44 (0)78 0500 7035
Marion Le Bot, Smiths Group
+44 (0)20 7004 1672
+44 (0)75 8315 4386
Media enquiries
Andrew Lorenz, FTI Consulting
+44 (0)203 727 1323
+44 (0)777 564 1807
Smiths is a global technology company listed on the London Stock Exchange (SMIN) and operates a sponsored level one ADR programme (SMGZY). A world leader in the practical application of technologies, Smiths Group delivers products and services for the threat & contraband detection, medical devices, energy and communications markets worldwide. Our products and services make the world safer, healthier and more productive. Smiths Group employs 22,000 people in over 50 countries. For more information visit www.smiths.com.
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