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Home » Hillrom offers $425m in private-placement funding notes

Hillrom offers $425m in private-placement funding notes

September 5, 2019 By Sean Whooley

HillromHillrom (NYSE:HRC) said today that it has launched a planned private offering of more than $400 million in senior unsecured notes.

The Chicago-based medtech company said it intends to use the proceeds from the $425 million offering, along with available cash, to redeem its outstanding 5.75% senior notes due in 2023, including the payment of related fees and expenses.

It’s been a busy summer for the company, which announced its rebranding from Hill-Rom to Hillrom in May, then inked a $170 million deal to sell surgical supplies to Audax in July before agreeing to pay $130 million to acquire Breathe Technologies in August.

The company posted profits of $32.6 million in fiscal Q3, topping the Wall Street consensus. Shares of HRC were up +0.5% at $105.73 in late-morning trading.

Filed Under: Business/Financial News, Featured, Funding Roundup, News Well, Surgical, Wall Street Beat Tagged With: Hillrom

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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