Zimmer Holdings to sell $1 billion in notes

AP News
Posted: Nov 12, 2009 5:23 PM

Orthopedic implant maker Zimmer Holdings Inc. said Thursday it will publicly offer $1 billion in senior notes, and use the proceeds to pay down debt and for general corporate purposes.

The company agreed to sell $500 million of 4.625 percent notes due 2019 and $500 million worth of 5.75 percent notes due 2039.

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The offering is expected to close Nov. 17.

Shares of Zimmer Holdings fell 16 cents to close at $55.16.