STERIS plc Issues $1.4 Billion in Senior Notes
Ticker: STE · Form: 8-K · Filed: Oct 7, 2024 · CIK: 1757898
Sentiment: neutral
Topics: debt-issuance, financing, senior-notes
TL;DR
STERIS just dropped $1.4B in new debt, split between 2031 and 2051 notes.
AI Summary
On October 7, 2024, STERIS plc entered into a material definitive agreement related to the creation of a direct financial obligation. The company issued two series of senior notes: $700 million due in 2031 and $700 million due in 2051. This action is part of the company's ongoing financial activities.
Why It Matters
STERIS plc has raised significant capital through the issuance of senior notes, which could impact its debt structure and future investment capacity.
Risk Assessment
Risk Level: medium — The issuance of a substantial amount of debt increases the company's financial leverage and associated interest payment obligations.
Key Numbers
- $1.4B — Senior Notes Issued (Total principal amount raised from two series of senior notes.)
- $700M — Senior Notes Due 2031 (Principal amount of the first series of senior notes.)
- $700M — Senior Notes Due 2051 (Principal amount of the second series of senior notes.)
Key Players & Entities
- STERIS plc (company) — Registrant
- $700 million (dollar_amount) — Principal amount of Senior Notes due 2031
- $700 million (dollar_amount) — Principal amount of Senior Notes due 2051
- 2031 (date) — Maturity year for one series of Senior Notes
- 2051 (date) — Maturity year for the other series of Senior Notes
- October 7, 2024 (date) — Date of Report and earliest event reported
FAQ
What is the purpose of issuing these senior notes?
The filing does not explicitly state the purpose for the issuance of the senior notes, but it is a material definitive agreement creating a direct financial obligation.
What are the specific interest rates for the senior notes?
The filing does not specify the interest rates for the $700 million Senior Notes due 2031 or the $700 million Senior Notes due 2051.
When was the agreement for these senior notes entered into?
The date of the report, which is the earliest event reported, is October 7, 2024, indicating the agreement was likely entered into on or before this date.
What is STERIS plc's jurisdiction of incorporation?
STERIS plc is incorporated in Ireland.
What is the total principal amount of the senior notes issued?
The total principal amount of the senior notes issued is $1.4 billion, comprised of two series of $700 million each.
Filing Stats: 1,054 words · 4 min read · ~4 pages · Grade level 12.5 · Accepted 2024-10-07 16:57:32
Key Financial Figures
- $0.001 — e on which registered Ordinary Shares. $0.001 par value STE New York Stock Exchan
- $1,100 million — ving Credit Agreement") providing for a $1,100 million revolving credit facility (the "Revolve
- $625 million — sed in specified circumstances by up to $625 million in the discretion of the lenders. The R
Filing Documents
- d833057d8k.htm (8-K) — 32KB
- d833057dex101.htm (EX-10.1) — 724KB
- 0001193125-24-233855.txt ( ) — 1087KB
- ste-20241007.xsd (EX-101.SCH) — 4KB
- ste-20241007_def.xml (EX-101.DEF) — 13KB
- ste-20241007_lab.xml (EX-101.LAB) — 22KB
- ste-20241007_pre.xml (EX-101.PRE) — 14KB
- d833057d8k_htm.xml (XML) — 7KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Credit Agreement, dated as of October 7, 2024, among STERIS plc, STERIS Limited, STERIS Corporation, STERIS Irish FinCo Unlimited Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Certain schedules and similar attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally copies of any of the omitted schedules or similar attachment to the Securities and Exchange Commission upon its request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STERIS plc By /s/ J. Adam Zangerle Name: J. Adam Zangerle Title: Senior Vice President, General Counsel & Company Secretary Dated: October 7, 2024