Zimmer Biomet Announces Senior Notes Offering
Company Highlights Strong Financial Performance in Q2
Key Points:
- Zimmer Biomet, a leading medical device company, announced a senior notes offering.
- The notes will mature on September 15, 2034, and the offering was made pursuant to a Registration Statement.
- In the second quarter, Zimmer Biomet reported a 3.9% increase in net sales on a constant currency basis, reaching $1.942 billion.
- The company's adjusted operating profit margin is expected to be between 26.5% and 27.5%.
- Adjusted diluted earnings per share are projected to be between $1.60 and $1.65.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) announced today that it has priced an offering of $500 million aggregate principal amount of 4.875% Senior Notes due 2034 (the "Notes"). The Notes will be sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The offering is expected to close on March 8, 2023, subject to customary closing conditions.
The Notes will mature on September 15, 2034. The offering of the Notes was made pursuant to the Registration Statement filed with the Securities and Exchange Commission (the "SEC") on February 23, 2023.
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. The company's products and solutions address the needs of patients across the entire musculoskeletal health continuum, from prevention and diagnosis to treatment and rehabilitation.
The company's second-quarter net sales of $1.942 billion increased 3.9% on a constant currency basis compared to the same period in 2022. Zimmer Biomet attributed this growth to strong performance in its knees and hips businesses.
Zimmer Biomet is well-positioned for continued growth in the future. The company has a strong product pipeline, and it is investing in innovation to develop new and improved products and technologies.
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