IN BRIEF: Smith & Nephew prices USD1 billion in debt notes

Thu, 14th Mar 2024 11:53

Smith & Nephew PLC - Watford, England-based medical devices maker - Prices USD350.0 million in 3-year debt notes due 2027 with 5.15% coupon and USD650.0 million in 10-year notes due 2034 with 5.40% coupon. S&N says the net proceeds of USD990.6 million will be used to redeem outstanding private placement notes with coupons ranging from 3.26% to 3.89%, as well as for general corporate purposes. The new debt offer is expected to close on Wednesday next week.

Current stock price: 1,085.00 pence

12-month change: down 9.4%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

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