Smith & Nephew Plc Announces Result of Cash Tender Offer for 2030 Bonds
Smith+Nephew's cash tender offer for up to $250 million of its 2.032% Senior Notes due 2030 was oversubscribed: $431,825,000 of principal was validly tendered by the September 15, 2026 expiration, triggering proration at a 57.995% scaling factor. The company will accept the full $250 million at $878.90 per $1,000 principal plus accrued interest, with settlement expected September 18, 2026; purchased notes will be canceled, trimming the issue from $900 million outstanding.
Key figures
- Coupon
- 2.032%
- Maturity date
- October 14, 2030
- Scaling factor
- 57.995%
- Settlement date
- 2026-09-18
- Annual sales 2025
- $6.2 billion
- Max tender amount usd
- 250000000
- Notes outstanding usd
- 900000000
- Principal accepted usd
- 250000000
- Principal validly tendered usd
- 431825000
- Tender consideration per 1000 usd
- 878.9
AI analysis
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