Teleflex announces upcoming $500m senior note offering

Teleflex (NYSE:TFX) today announced a new public offering of senior notes due 2027, looking to raise approximately $500 million. The Wayne, Penn.-based company has not yet released prices of the notes, and said that the interest rates and other terms will be determined at pricing. Teleflex said that net proceeds from the round will be used to repay approxiamtely $491.2 million in debt borrowings under its revolving credit facility, according to a press release. J.P. Morgan, Bank of America Merrill Lynch and PNC Capital Markets will act as joint book-running managers in the offering, the company said. Earlier this month, Teleflex reported third-quarter sales and earnings that topped the consensus outlook on Wall Street and raised its forecast for the rest of the year. The based medical device company posted profits of $77.0 million, or $1.65 per share, on sales of $534.7 million for the three months ended Oct. 1, for a bottom-line gain of 16.1% on sales growth of 17.4% compared with Q3 2016. The post Teleflex announces upcoming $500m senior note offering appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Teleflex Source Type: news