Smith & Nephew (SNN) said Tuesday it has launched a cash tender offer to purchase up to $250 million of its 2.032% senior notes due 2030.
The tender offer is part of its strategy to manage its debt portfolio and to extend the average maturity profile of its debt, the company said. The offer will expire on Sept. 15.
The firm also said it plans to issue senior notes due 2036 in a concurrent notes offering.
Price: $28.29, Change: $-0.59, Percent Change: -2.03%
The Codi (KOSDAQ:A224060) has approved a 30 billion won private convertible bond issue, with proceeds earmarked for future acquisitions and business diversification.The bonds carry a 3% coupon rate and 4% yield to maturity, mature on Oct. 6, 2029, and include a put option allowing early redemption starting October 2027, according to a bourse filing on Tuesday.The conversion price is set at 3,550 won per share, with the conversion period running from October 2027 to September 2029, potentially diluting existing shareholders by approximately 164% if fully converted.The bonds will be privately placed with Goldmark Union and Horizon Union, both selected for their funding capacity, and are subject to a one-year lock-up on conversion and face-value division.Proceeds will be allocated to acquiring securities of other corporations, with specific targets and terms to be disclosed upon finalization through a separate regulatory filing.
Indian state-owned power sector financier REC (BOM:532955, NSE:RECLTD) issued 5 billion rupees in tokenized corporate bonds under the Securities and Exchange Board of India's regulatory sandbox framework, according to a Monday exchange filing.The offering received bids worth about 7.96 billion rupees, making it roughly eight times oversubscribed.REC accepted 5 billion rupees at a coupon rate of 7.30% per annum for a tenor of one year and nine months. The bonds were allotted, settled and listed on NSE and BSE on the same day.Top lenders HDFC Bank (NSE:HDFCBANK, BOM:532174) and ICICI Bank (BOM:532174, NSE:ICICIBANK) are among the buyers of REC's tokenized bonds, Bloomberg News reported separately, citing people familiar with the matter.The buyers also included private lenders Axis Bank (NSE:AXISBANK, BOM:532215) and Yes Bank (BOM:532648, NSE:YESBANK), as well as AK Capital Services, ICICI Securities Primary Dealership, Taurus Group and Trust Investment Advisors, according to the report.The lenders did not immediately respond to' request for comment.
Sparebanken Møre (MORG.OL) issued Monday a new 1.50 billion-Norwegian-krone senior unsecured bond, with settlement scheduled on Friday.The three-year bond with a coupon of three-month Norwegian Interbank Offered Rate plus 32 basis points will be listed on Nordic ABM.DNB Carnegie and Nordea served as joint arrangers for the transaction.