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Wright Medical announces $200M debt offering | Wall Street Beat

Wed, 08/22/2012 - 1:16pm
Mass Device

Wright Medical Group says it's planning a private placement for $200 million worth of senior notes.

MassDevice.com Wall Street Beat

Wright Medical (NSDQ:WMGI) said it's planning a private placement for $200 million worth of senior notes due 2017.

The Arlington, Tenn.-based orthopedic medical device company said it will offer the notes to qualified institutional investors, with initial backers given an option for another $30 million worth of the debt to cover over-allotments, according to a press release.

About $130 million of the net proceeds are slated for paying back a term loan and a portion of the private placement's costs, "and for general corporate purposes, including possible acquisitions," according to the release.

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