Financial

Wright Medical lands $395m debt placement

 , BY

 

Wright Medical (NSDQ:WMGI) today said it raised $395 million in a private placement of debt with a syndicate of institutional investors.

The offering, of 2.25% convertible senior notes due in 2021, is expected to close May 20, Wright said. Some holders of Wright’s 2.0% notes due in 2017 and 2020 have pledged to exchange the older debt for the notes being issued now, Wright said.

Net proceeds, excluding $54.4 million in 2017 notes, $45.0 million in 2020 notes (Wright said it won’t receive any proceeds from the note swaps) and $45.2 million in hedge transaction fees, are expected to be $241.3 million. That’s slated to be used for “general corporate purposes, Wright said.

 

READ THE REST HERE

Print Friendly, PDF & Email
Tags

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

Related Articles

Back to top button
Close