Smith & Nephew priced its cash tender offer for up to $250 million of its outstanding 2.032% senior notes due 2030. The company will pay $878.90 per $1,000 of notes accepted, excluding accrued interest, based on a 55-basis-point spread over the reference Treasury yield. The notes have $900 million in aggregate principal amount outstanding, so the $250 million maximum represents a portion of the total issue. If tenders exceed the $250 million maximum, the company will accept notes on a prorated basis. Settlement is expected on September 18.
Smith & Nephew PLCSmith & Nephew prices a cash tender offer for up to $250M of its 2.032% 2030 notes at $878.90 per $1,000, a debt-management/liability action.
