STERIS plc announced on November 9, 2026, that its subsidiary, STERIS Irish FinCo Unlimited Company, priced an offering of $1.5 billion in aggregate principal amount of senior notes. The offering consists of two series of notes: $750 million in principal amount of senior notes due 2033 and $750 million in principal amount of senior notes due 2036.
The 2033 Notes will bear interest at an annual rate of 5.650%, while the 2036 Notes will bear interest at an annual rate of 5.875%. Interest payments are scheduled for June 15 and December 15 of each year, beginning June 15, 2027.
The notes are senior unsecured obligations of the Issuer and are guaranteed by STERIS plc, STERIS Corporation, and STERIS Limited. The issuance is governed by an indenture dated April 1, 2021, as amended by a Second Supplemental Indenture. The offering is expected to close on or about November 24, 2026, subject to customary closing conditions.
Underwriters for the transaction include J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, and Citigroup Global Markets Inc. The company intends to use the net proceeds from the offering, combined with borrowings under a delayed draw term loan agreement and cash on hand, to fund the purchase price of the pending acquisition of Xodus Medical, Inc., as well as transaction expenses, general corporate expenses, and working capital needs.
