Jul 26 2012
Biomet, Inc. today announced that it has priced its previously announced offering of $550 million aggregate senior notes due 2020, which has been increased to $1.0 billion aggregate principal amount of senior notes due 2020 (the "Senior Notes"), at an issue price of 6.500%. The Senior Notes will be offered in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to non-U.S. persons in accordance with Regulation S under the Securities Act. The offering is expected to close on or about August 8, 2012, subject to customary closing conditions.
Biomet intends to use the net proceeds from the offering of the Senior Notes to fund its tender offer for any and all of its outstanding 10⅜% / 11⅛% Senior Toggle Notes due 2017, including related fees expenses, and to purchase, redeem, defease or otherwise acquire or retire its outstanding indebtedness. The offering is not conditioned on the consummation of the tender offer.