Convatec announces pricing of Senior Notes
Summary by AI BETAClose X
2 October 2025
Convatec Group Plc
("Convatec" or "the Company")
Convatec announces pricing of $500 Million 5.300% Senior Notes due 2035
Convatec announces that it has priced an offering of $500 million aggregate principal amount of 5.300% senior notes due 2035 (the "Notes") to be issued by 180 Medical, Inc. (the "Issuer"). The Notes will bear interest at a rate of 5.300% per annum and will be issued at a price of 99.617% of the nominal amount thereof. The issuance and settlement of the Notes is expected to occur on 8 October 2025, subject to customary closing conditions.
Convatec intends to use the proceeds to refinance existing debt, including to prepay the Company's outstanding term loan facility in full, prepay a portion of the revolving credit facility established under the Facilities Agreement, and for other general corporate purposes.
For more information, please refer to our announcement published on 29 September 2025 Convatec announces offering of Senior Notes - Convatec, or contact:
Enquiries
Media: MediaRelations@convatec.com
Investor Relations: IR@convatec.com
About Convatec
Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in Advanced Wound Care, Ostomy Care, Continence Care, and Infusion Care. With more than 10,000 colleagues, we provide products and services in around 90 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention, treatment for hard to heal wounds and at-risk skin and ulcerated tissue to supporting debilitating conditions, improved patient outcomes and reduced care costs. Convatec's revenues in 2024 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC).
Notes
The offering is being made by means of an offering memorandum. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.
The Notes and the related guarantees have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold within the United States, or to, or for the account or benefit of, U.S. persons (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. Accordingly, the Notes and the related guarantees are being offered and sold (i) in the United States only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and (ii) in "offshore transactions" to non-U.S. persons outside the United States in accordance with Regulation S. There is no assurance that the offerings will be completed or, if completed, as to the terms on which they will be completed.
This announcement has been prepared on the basis that any offer of the Notes (i) in any Member State of the European Economic Area (the "EEA") will be made pursuant to an exemption under Regulation (EU) 2017/1129 (as amended or superseded, the "Prospectus Regulation") from the requirement to publish a prospectus for offers of the Notes; and (ii) in the United Kingdom ("UK") will be made pursuant to an exemption under the Prospectus Regulation as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("EUWA") (the "UK Prospectus Regulation") from the requirement to publish a prospectus for offers of the Notes.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Notes are not intended to be offered, sold, or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments, as amended ("MiFID II"); (ii) a customer within the meaning of Directive (EU) 2016/97, as amended, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus Regulation. Consequently, no key information document required by Regulation (EU) No 1286/2014 (the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.
PROHIBITION OF SALES TO UK RETAIL INVESTORS - The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the UK. For these purposes, a retail investor means a person who is one (or more) of: (i) retail client as defined in point (8) of Article 2 of Regulation (EU) No 600/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 ("FSMA"), and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (8) of Article 2(1) of UK MiFIR; or (iii) not a qualified investor as defined in the UK Prospectus Regulation. Consequently, no key information document required by Regulation (EU) No 1286/2014 as it forms part of UK law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
MiFID II and UK MiFIR - professionals/ECPs-only/No PRIIPS or UK PRIIPS KID - Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPS or UK PRIIPs key information document (KID) has been prepared as the offering is not available to retail investors in the EEA or UK.
The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such jurisdiction.
Forward-looking Statements
This announcement may include "forward-looking statements" within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this announcement, including, without limitation, those regarding the offering of the Notes and the details thereof and the proposed use of proceeds therefrom. Forward-looking statements are generally identified by the use of terms such as "believes", "estimates", "anticipates", "expects", "intends", "predicts", "may", "will", "could", "targets", or their negatives or other similar expressions. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to business, economic and competitive uncertainties that are difficult to predict and are outside the Company's control, including, but not limited to: access to and reliability of the Company's supply chain; the Company's dependence on a number of single source suppliers; environmental, health and safety laws and regulations, and numerous permit requirements and licensing regimes; and operational risks. Forward-looking statements are based only on knowledge and information available to the Company at the date of this document and speak only as at the date of this document. The Company has no obligation to update any forward-looking statements (except to the extent required by applicable law or regulation).
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