Zimmer Biomet said it completed on August August 15, 2024 the previously announced issuance of $700,000,000 in aggregate principal amount of 5.200% notes due 2034.

1. 01

   Zimmer Biomet said it completed on August August 15, 2024 the previously announced issuance of $700,000,000 in aggregate principal amount of 5.200% notes due 2034.

2. 02

   The company said the notes bear interest at 5.200% per year, payable semi-annually in arrears on March 15 and September 15 of each year, starting on March 15, 2025. The notes mature on September 15, 2034.

3. 03

   Zimmer Biomet said it may redeem the notes before June 15, 2034 (the Par Call Date) at the greater of the present value of remaining scheduled payments discounted at the Treasury Rate plus 20 basis points, less accrued interest, and 100% of the principal amount, plus accrued and unpaid interest. On or after the Par Call Date, it said it may redeem the notes at 100% of the principal amount plus accrued and unpaid interest.

4. 04

   The company said that if a Change of Control Repurchase Event occurs and it has not exercised its redemption right, it will offer to repurchase each holder's notes at a cash price equal to 101% of the principal amount plus accrued and unpaid interest.

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Original filing

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