Smith & Nephew Prices $250M 2030 Notes Tender

Smith+Nephew priced a cash tender offer for up to $250 million of its outstanding 2.032% senior notes due 2030, of which $900 million is outstanding. The company will pay $878.90 per $1,000 principal amount accepted, excluding accrued interest, based on a 4.833% reference Treasury yield and a 55-basis-point spread. If tenders exceed the maximum amount, acceptances will be prorated; the offer expired September 15, 2026, with results expected September 16 and settlement around September 18. The transaction supports the medical technology company’s balance-sheet and liability management efforts, following its pricing of $700 million of 5.75% notes due 2036, with net proceeds intended partly to fund the tender offer.