By Lisa Kerner
Charlotte, N.C., Dec. 5 - Steris Corp. entered into various note purchase agreements with 17 institutional investors for the private placement of $200 million of its series A senior notes on Tuesday, according to a form 8-K filed with the Securities and Exchange Commission.
The notes have maturities of 10, 12 and 15 years and weighted average maturity and interest rates of about 11.3 years and 3.3%, respectively.
Under the agreements, $100 million of the notes were issued and purchased on Dec. 4 as follows:
• $47.5 million of 3.2% series A-1A notes due 2022;
• $40 million of 3.35% series A-2A notes due 2024; and
• $12.5 million of 3.55% series A-3A notes due 2027.
The remaining $100 million will be issued and purchased in early February 2013 in a deferred take down as follows:
• $47.5 million of 3.2% series A-1B notes due 2022;
• $40 million of 3.35% series A-2B notes due 2024; and
• $12.5 million of 3.55% series A-3B notes due 2027.
Proceeds will be used for general corporate purposes, including the repayment of debt.
The notes are payable in full together with accrued and unpaid interest at their specified maturities or are payable in whole or in part on such earlier dates as may be required or permitted by the terms of the agreements.
Interest is payable in arrears, beginning in June 2013 and every six months thereafter, the filing said.
Steris is a Mentor, Ohio-based maker of contamination control and surgical support products.
| Issuer: | Steris Corp.
|
| Issue: | Series A-A senior notes
|
| Amount: | $100 million
|
| Settlement date: | Dec. 4
|
| Issue: | Series A-B senior notes
|
| Amount: | $100 million
|
| Settlement date: | February 2013
|
|
|
| Series A-1A
|
| Amount: | $47.5 million
|
| Maturity: | Dec. 4, 2022
|
| Coupon: | 3.2%
|
|
|
| Series A-2A
|
| Amount: | $40 million
|
| Maturity: | Dec. 4, 2024
|
| Coupon: | 3.35%
|
|
|
| Series A-3A
|
| Amount: | $12.5 million
|
| Maturity: | Dec. 4, 2027
|
| Coupon: | 3.55%
|
|
|
| Series A-1B
|
| Amount: | $47.5 million
|
| Maturity: | Dec. 4, 2022
|
| Coupon: | 3.2%
|
|
|
| Series A-2B
|
| Amount: | $40 million
|
| Maturity: | Dec. 4, 2024
|
| Coupon: | 3.35%
|
|
|
| Series A-3B
|
| Amount: | $12.5 million
|
| Maturity: | Dec. 4, 2027
|
| Coupon: | 3.55%
|
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