ResMed Inc. Completes $500M Private Placement Debt Offering
July 15 2019 - 4:05PM
Business Wire
- Proceeds will be used to reduce amounts outstanding under
existing revolving credit facility
- New senior notes will mature in 2026 and 2029
ResMed Inc. (NYSE: RMD, ASX: RMD) announced today the successful
pricing and closing of a private placement offering of $250,000,000
principal amount 3.24% senior notes due July 10, 2026, and
$250,000,000 principal amount 3.45% senior notes due July 10,
2029.
Net proceeds from the offering will be approximately $498
million, after deducting estimated fees and expenses related to the
offering. The net proceeds will be used to pay down current
borrowings on ResMed’s senior unsecured revolving credit facility.
The notes are senior unsecured obligations of ResMed, and jointly
and severally guaranteed by each Subsidiary Guarantor.
“We are pleased to complete this U.S. private placement offering
on attractive terms,” said Brett Sandercock, ResMed’s chief
financial officer. “The transaction significantly lengthens our
average debt maturity profile and provides improved visibility on
our long-term funding costs.”
This private placement offering is exempt from the registration
requirements of the Securities Act of 1933. The notes were offered
and sold to accredited investors in an exempt transaction not
involving a public offering in accordance with section 4(2) of the
Securities Act. Refer to ResMed’s related SEC filing for more
information regarding the notes, including a copy of the note
purchase agreement.
About ResMed
At ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions
that treat and keep people out of the hospital, empowering them to
live healthier, higher-quality lives. Our cloud-connected medical
devices transform care for people with sleep apnea, COPD and other
chronic diseases. Our comprehensive out-of-hospital software
platforms support the professionals and caregivers who help people
stay healthy in the home or care setting of their choice. By
enabling better care, we improve quality of life, reduce the impact
of chronic disease and lower costs for consumers and healthcare
systems in more than 120 countries. To learn more, visit ResMed.com
and follow @ResMed.
Safe harbor statement
Statements contained in this release that are not historical
facts are “forward-looking” statements as contemplated by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to materially differ from those
projected or implied in the forward-looking statements. Additional
risks and uncertainties are discussed in ResMed’s periodic reports
on file with the U.S. Securities & Exchange Commission. ResMed
does not undertake to update its forward-looking statements.
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For investors Amy Wakeham +1 858-836-5000
investorrelations@resmed.com
For media Jayme Rubenstein +1 858-836-6798
news@resmed.com
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