Dive Brief:
- Wayne, Pa.-based medical device manufacturer Teleflex has announced a registered public offering of $400 million in senior notes.
- It says the sale is subject to market and other conditions and that the interest rate and other terms will be determined at pricing.
- Teleflex says it plans to use the proceeds from the sale to repay about $393 million in borrowings under its revolving credit facility.
Dive Insight:
Teleflex saw its stock take a slight dip, the Sonoran Weekly Review reported, putting it at $162.34 per share. The publication noted Teleflex has been uptrending after going up 26.85% since October 2015, and added it has outperformed the S&P500 by 21.95%.
Teleflex notes J.P. Morgan and Bank of America Merrill Lynch will serve as joint book-running managers for its offering.
The global company operates in 40 countries as a provider of medical technologies for critical care and surgery, including tools for vascular and interventional access, anesthesia, cardiac care, urology, emergency medicine, and respiratory care.