By Devika Patel
Knoxville, Tenn., Jan. 26 – Steris plc placed $296 million of senior notes with various institutional investors on Jan. 23, according to an 8-K filing with the Securities and Exchange Commission.
All series of notes will have a make-whole call.
The company sold $50 million of 3.93% notes due Feb. 27, 2027; €60 million of 1.86% notes due Feb. 27, 2027; $45 million of 4.03% notes due Feb. 27, 2029; €20 million of 2.04% notes due Feb. 27, 2029; £45 million of 3.04% notes due Feb. 27, 2029; €19 million of 2.3% notes due Feb. 27, 2032; and £30 million of 3.17% notes due Feb. 27, 2032.
Proceeds will be used to repay floating-rate bank debt under the company’s bank credit facility, increasing the company’s proportion of fixed-rate debt. Total debt levels for the Company are expected to remain relatively unchanged after these sales.
Steris is a Mentor, Ohio-based maker of contamination control and surgical support products.
| Issuer: | Steris Corp.
|
| Issue: | Senior notes
|
| Amount: | $296 million
|
| Call option: | Make-whole call
|
| Pricing date: | Jan. 23
|
| Settlement date: | Feb. 27
|
| Distribution: | Private placement
|
|
|
| 3.93% notes
|
| Amount: | $50 million
|
| Coupon: | 3.93%
|
| Maturity: | Feb. 27, 2027
|
|
|
| 1.86% notes
|
| Amount: | €60 million
|
| Coupon: | 1.86%
|
| Maturity: | Feb. 27, 2027
|
|
|
| 4.03% notes
|
| Amount: | $45 million
|
| Coupon: | 4.03%
|
| Maturity: | Feb. 27, 2029
|
|
|
| 2.04% notes
|
| Amount: | €20 million
|
| Coupon: | 2.04%
|
| Maturity: | Feb. 27, 2029
|
|
|
| 3.04% notes
|
| Amount: | £45 million
|
| Coupon: | 3.04%
|
| Maturity: | Feb. 27, 2029
|
|
|
| 2.3% notes
|
| Amount: | €19 million
|
| Coupon: | 2.3%
|
| Maturity: | Feb. 27, 2032
|
|
|
| 3.17% notes
|
| Amount: | £30 million
|
| Coupon: | 3.17%
|
| Maturity: | Feb. 27, 2032
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
