By Brad Perriello
Zimmer (NYSE:ZMH) today said it agreed to float some $7.65 billion in senior notes to help finance its $13.35 billion buyout of cross-town orthopedics rival Biomet.
Warsaw, Ind.-based Zimmer said it expects the notes offering to close March 19, with the merger slated to go on the books by the end of the 1st quarter “or shortly thereafter.”
Zimmer said it plans to offer $500 million in 1.45% senior notes due in 2017; $1.15 billion in 2.0% notes due in 2018; $1.50 billion in 2.7% notes due in 2020; $750 million in 3.15% notes due in 2022; $2.0 billion in 3.55% notes due in 2025; $500 million in 4.25% notes due in 2035; and $1.25 billion in 4.45% notes due in 2045.
