Teleflex Inc Launches $500M Senior Notes Offering

By Greg Peters • Monday, June 01 16:09 • Permanent Link

Teleflex Incorporated said June 1 it is launching a private offering of $500 million of senior notes due 2032.

The company said the new debt will be used, along with cash on hand, to redeem all of its outstanding 4.625% senior notes due 2027. That means Teleflex is replacing debt that matures in about a year and a half earlier with longer-dated notes due 2032.

The offering size is $500 million, and the interest rate on the new notes has not yet been set. The notes will be guaranteed by Teleflex’s existing and future wholly owned domestic subsidiaries that already guarantee or otherwise obligate debt under its credit agreement and certain other indebtedness.

Teleflex did not disclose pricing, but the move shifts its maturity profile from 2027 to 2032 and targets a full retirement of the 2027 notes rather than a partial repayment. Following these announcements, the company's shares moved -0.4%, and are now trading at a price of $128.12. Check out the company's full 8-K submission here.

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