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STERIS completes $1.35 billion debut Senior Notes offering

March 2021

Client(s) STERIS Plc

Jones Day represented STERIS Plc, a leading provider of infection prevention and other procedural products and services, in connection with the registered offering of $1.35 billion of Senior Notes by an affiliate, consisting of $675 million aggregate principal amount of 2.700% Senior Notes due 2031 and $675 million aggregate principal amount of 3.750% Senior Notes due 2051. STERIS intends to use the net proceeds from the offering, together with credit facility borrowings, to fund the cash consideration of its proposed acquisition of Cantel Medical, as well as the discharge of certain Cantel Medical indebtedness, transaction expenses, general corporate purposes, and working capital needs. Cantel Medical is a global provider of infection prevention products and services, primarily to endoscopy and dental customers. This transaction is the debut investment grade issuance by STERIS and the Senior Notes will be listed on the NYSE.

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