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08 Oct 2020 | 08:46

Smith & Nephew prices $1bn bond offering

(Sharecast News) - Smith & Nephew has priced an offering of $1bn (£770m) of notes at 2.032%, due 2030, it announced on Thursday. The FTSE 100 medical technology company said the offering was expected to close on 14 October, subject to the satisfaction of customary conditions.

"Smith & Nephew intends to use the proceeds, before expenses and underwriting discounts, of $1bn from the notes for general corporate purposes," its board said in its statement.

It said BofA Securities and JPMorgan Securities were acting as the joint bookrunning managers for the offering.

At 0841 BST, shares in Smith & Nephew were up 0.03% at 1,520.5p.
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