Smith+Nephew announced the pricing of its cash tender offer for up to $250 million aggregate principal amount of its outstanding 2.032% Senior Notes due 2030, out of $900 million of those notes currently outstanding. The Tender Offer Consideration was set at U.S.$878.90 per U.S.$1,000 principal amount, determined by reference to a Fixed Spread of 55 basis points over a Reference Yield of 4.833% on the 4.375% U.S. Treasury due August 31, 2031, as calculated by the Dealer Manager at 4:00 p.m. New York City time on September 15, 2026. The offer expires at 5:00 p.m. New York City time on September 15, 2026, with results expected on September 16, 2026 and settlement expected on September 18, 2026. If validly tendered notes exceed the Maximum Tender Amount, acceptance will be subject to proration, and all notes not accepted will be returned to tendering holders. The Financing Condition has been satisfied, and Merrill Lynch International is acting as Dealer Manager.
Smith & Nephew PLCSmith+Nephew priced a cash tender offer for up to $250M of its 2030 notes, a debt-financing/liability-management event.
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