Teleflex Launches $500M Senior Notes Offering

By Chris Stiles • Monday, June 01 11:28 • Permanent Link

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

The company said it plans to use the net proceeds, along with cash on hand, to redeem all of its outstanding 4.625% senior notes due 2027. That means Teleflex is replacing a 2027 debt maturity with new notes due five years later, extending the debt timeline by about five years.

The offering size is $500 million in principal amount. The new notes will be guaranteed by Teleflex’s existing and future wholly owned domestic subsidiaries that already guarantee or otherwise support its credit agreement and certain other debt.

Teleflex did not disclose the coupon rate for the new notes in the release; it said the interest rate and other terms will be set at pricing. The market has reacted to these announcements by moving the company's shares -1.88% to a price of $126.2225. For the full picture, make sure to review TELEFLEX INC's 8-K report.

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