Solventum (SOLV) said Friday it has begun tender offers to purchase up to $1.75 billion worth of its outstanding debt.
The first pool of debt repurchases includes up to $1.25 billion worth of its 5.450% senior notes due 2027, 5.400% senior notes due 2029, 5.600% of senior notes due 2034, and 5.450% of senior notes due 2031.
A second pool includes up to $500 million worth of 6.000% senior notes due 2064 and 5.900% senior notes due 2054.
The offers will expire Sept. 22 while holders must tender their notes by Sept. 5, the company said.
Shares of the healthcare company were down more than 1% in recent premarket activity.
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