Surgical and critical care device maker Teleflex (NYSE:TFX) announced today that it commenced a private offering of senior notes worth $500 million.

The Wayne, Pa.-based company is offering the $500 million in the form of senior notes due in 2028, with interest rate and other terms of the notes to be determined at pricing.

Each of Teleflex’s existing and future wholly-owned domestic subsidiaries that is a guarantor or other obliger under its credit agreement will be guaranteeing the notes, according to a news release.

Teleflex said in the release that it plans to use the net proceeds collected in the offering to repay borrowings under its revolving credit facility.