Zimmer Biomet plans to sell fixed-rate notes in two tranches

By Devika Patel

Knoxville, Tenn., Nov. 15 – Zimmer Biomet Holdings, Inc. intends to offer fixed-rate notes in two parts, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole call, then a par call.

Barclays, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are joint global coordinators and along with BNP Paribas Securities Corp. and BofA Securities Inc. are joint bookrunners.

Proceeds will be used to fund cash tender offers for any and all of the company’s 3.7% senior notes due 2023 and up to $1.5 billion of its 3.55% senior notes due 2025, 3.55% senior notes due 2030, 4.45% senior notes due 2045, 3.05% senior notes due 2026, 4.25% senior notes due 2035 and 5.75% senior notes due 2039.

Zimmer Biomet, based in Warsaw, Ind., designs, manufactures and markets orthopedic reconstructive and other products.

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