Davis Polk Advises Smith+Nephew on Its $1 Billion SEC-Registered Notes Offering

Davis Polk advised Smith & Nephew plc in connection with the establishment of a WKSI shelf and its debut SEC-registered shelf takedown of $1 billion aggregate principal amount of 2.032% senior notes due 2030. 

Smith+Nephew is a leading portfolio medical technology company, which operates through three global franchises: Orthopaedics, Sports Medicine & ENT (Ear, Nose and Throat) and Advanced Wound Management. Orthopaedics includes an innovative range of hip and knee implants used to replace diseased, damaged or worn joints, robotics-assisted enabling technologies that empower surgeons, and trauma products used to stabilize severe fractures and correct bone deformities. Smith+Nephew’s Sports Medicine & ENT businesses offer advanced products and instruments that enable surgeons to perform minimally invasive surgery of the joints and which are used to repair or remove soft tissue. Smith+Nephew’s Advanced Wound Management portfolio provides an extensive set of products to meet broad and complex clinical needs, and help healthcare professionals reduce the human and economic consequences of wounds. Smith+Nephew operates on a worldwide basis and has distribution channels in over 100 countries. 

The Davis Polk corporate team included partners Reuven B. Young and Simon Witty, counsel Connie I. Milonakis and John Taylor and associates James Harmer, Saratu M. Kitchener and Serdar Inci. Partner Jonathan Cooklin, counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. All members of the Davis Polk team are based in the London office.