Wright Medical tenders for $200 million 2.625% convertibles due 2014

By Susanna Moon

Chicago, Feb. 10 - Wright Medical Group, Inc. said it began a cash tender offer for its $200 million of outstanding 2.625% convertible senior notes due 2014.

The company will pay par for each $1,000 principal amount of notes tendered by 8 a.m. ET on March 11, the expiration date.

Holders also will receive accrued interest up to, but not including, the settlement date.

Tendered notes may be withdrawn at any time before the offer ends.

Funding for the tender offer will come from borrowings under a delayed draw term loan of up to $150 million and from cash on hand.

"We are pleased to have commenced a tender offer for the notes and to have entered into an amended and restated senior credit facility, which will provide us with increased flexibility and capacity to fund our strategies for growth," Gary D. Henley, president and chief executive officer of Wright, said in a press release.

Bank of America Merrill Lynch (888 292-0070 or collect 980 388-9217) is the dealer manager for the tender offer. D.F. King & Co., Inc. (800) 769-7666 or for banks and brokers only 212 269-5550) is the information agent and depositary.

Wright Medical is an Arlington, Tenn.-based orthopedic and medical products producer that focuses on reconstructive joint devices.

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