Smith & Nephew Sets Price for Tender Offer of 2030 Bonds
Smith & Nephew (SNN) has priced its cash tender offer for up to $250 million in outstanding senior notes due in 2030. The company will pay $878.90 per $1,000 of accepted bonds, excluding accrued interest. This price is based on a spread of 55 basis points over the reference Treasury yield. The tender offer reflects Smith & Nephew's strategy to manage its debt obligations and potentially reduce future financing costs by refinancing existing notes ahead of their maturity date in 2030.
Tickers: $SNN