20 November 2014

Smith & Nephew diversifies funding base with $800 million private placement

Smith & Nephew (LSE: SN, NYSE: SNN), the global medical technology business, announces that it has signed a private placement agreement to borrow $800 million of long-term debt, comprising $730m of fixed rate debt and $70m of floating rate debt. The fixed debt has an average rate of 3.1% and an average maturity of just over eight years. The funds will be used to repay existing bank debt.

At 27 September 2014, the end of the third quarter 2014, Smith & Nephew's net debt was $1,880 million.

Enquiries 

 

Investors
Ingeborg Oie
Smith & Nephew

 

+44 (0) 20 7401 7646

 

Media
Charles Reynolds
Smith & Nephew

 

+44 (0) 20 7401 7646

 

Debbie Scott / Matthew Cole
FTI Strategic Consulting

 

+44 (0) 20 3727 1000


About Smith & Nephew

Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 14,000 employees and a presence in more than 90 countries. Annual sales in 2013 were more than $4.3 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).

For more information about Smith & Nephew, please visit our corporate website www.smith-nephew.com, follow @SmithNephewplc on Twitter or visit SmithNephewplc on Facebook.com

Forward-looking Statements

This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that 

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