Smith & Nephew (SNN) accepted $250 million of its 2.032% senior notes due 2030 in a cash tender offer, after holders tendered $431.8 million of the notes, the company said Wednesday.

The company will pay $878.90 for each $1,000 of notes accepted, excluding accrued interest, Smith & Nephew said. The notes had $900 million outstanding before the offer.

The tender offer expired Tuesday, and the settlement date is expected to be Sept. 18, it added.

Smith & Nephew shares were down 1.1% in premarket activity.