Smith & Nephew to redeem $350M 5.15% notes
Smith & Nephew will fully redeem its $350 million 5.150% notes due 2027 on October 5, 2026, ending interest accrual and cancelling the NYSE listing for the notes.
Rhea-AI Filing Summary
SMITH & NEPHEW PLC (SNN) is redeeming in full its $350,000,000 5.150% Notes due 2027. The company has issued a notice of redemption for the entire outstanding principal amount of these Securities under the October 14, 2020 Indenture.
The notes will be redeemed on October 5, 2026, at a redemption price calculated in accordance with the Indenture, and their New York Stock Exchange listing will be cancelled on or shortly after that date. On the Redemption Date, the redemption price will become due and payable, interest will cease to accrue, and the notes will no longer be outstanding. Before that date, Smith & Nephew will irrevocably deposit with the Trustee or a Paying Agent funds sufficient to pay the total redemption price, after which holders’ rights will be limited to receiving the redemption amount, unpaid interest and any additional amounts due.
Positive
- $350,000,000 of 5.150% notes due 2027 will be fully redeemed, reducing this outstanding debt and associated interest costs.
- Redemption on October 5, 2026 will stop interest accrual on the notes, lowering future cash interest outflows on this instrument.
Negative
- None.
Key Figures
Principal amount of notes: $350,000,000
Coupon rate: 5.150%
Maturity year of notes: 2027
+3 more
6 metrics
Principal amount of notes
$350,000,000
Total outstanding principal of 5.150% Notes due 2027 to be redeemed
Coupon rate
5.150%
Interest rate on the Notes due 2027 being redeemed
Maturity year of notes
2027
Original maturity of the 5.150% Notes now called for redemption
Redemption Date
October 5, 2026
Date on which the notes will be redeemed and interest will cease to accrue
Indenture date
October 14, 2020
Date of the Indenture governing the 5.150% Notes due 2027
Exchange listing status
Cancelled on or shortly after October 5, 2026
Planned NYSE delisting of the 5.150% Notes due 2027
Key Terms
Indenture, Redemption Date, Redemption Price, foreign private issuer, +1 more
5 terms
Indenture financial
"pursuant to the terms of the Indenture dated October 14, 2020"
An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.
Redemption Date financial
"The outstanding Securities will be redeemed on October 5, 2026 (the "Redemption Date")"
The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.
Redemption Price financial
"at the redemption price to be calculated in accordance with the terms of the Indenture (the "Redemption Price")"
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
foreign private issuer regulatory
"Form 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16"
A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.
forward-looking statements regulatory
"This announcement contains certain "forward-looking" statements within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did SMITH & NEPHEW PLC (SNN) announce about its 5.150% Notes due 2027?
Smith & Nephew announced it has issued a notice to redeem in full its $350,000,000 5.150% Notes due 2027. The entire outstanding principal amount of these Securities will be repaid in accordance with the terms of the October 14, 2020 Indenture.
When will Smith & Nephew (SNN) redeem its $350 million 5.150% notes?
The outstanding $350,000,000 5.150% Notes due 2027 will be redeemed on October 5, 2026, the stated Redemption Date. On that date, the redemption price will become due and payable and interest on the Securities will cease to accrue.
What happens to the NYSE listing of Smith & Nephew’s 5.150% notes (SNN)?
The company states that the listing of the 5.150% Notes due 2027 on the New York Stock Exchange will be cancelled on, or shortly after, October 5, 2026, in connection with the full redemption of these Securities.
How will Smith & Nephew (SNN) fund the redemption of its 5.150% notes?
Smith & Nephew states that before the Redemption Date it will irrevocably deposit with the Trustee or a Paying Agent an amount of money sufficient to pay the total Redemption Price for each of the Securities, as calculated under the Indenture.
What rights do holders of Smith & Nephew’s 5.150% notes (SNN) have after funds are deposited?
Once the company deposits sufficient funds with the Trustee or a Paying Agent, all rights of holders will cease except their rights to receive the Redemption Price, unpaid interest and any additional amounts due on the Redemption Date, and the Securities will no longer be outstanding.
Who can investors contact at Smith & Nephew (SNN) about the note redemption?
For information about the redemption of the Securities, Smith & Nephew directs inquiries to Group Treasury, specifically Group Treasurer Adam Richford, via telephone at +44 01923 477 100.
AI-generated analysis. How Rhea-AI works. Not financial advice.
