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Ropes & Gray Counsels Wright Medical Group on $632.5 Million Cash Convertible Senior Notes Offering

Practices: Securities & Public Companies, Tax, Hedge Funds

Ropes & Gray represented Wright Medical Group, Inc. in connection with its offering of $632.5 million cash convertible senior notes due 2020. In connection with the sale of the notes, the company entered into privately negotiated cash convertible note hedge transactions intended to reduce the net amount of cash payments that the company may be required to make upon conversion of the notes. The underwriters exercised their over-allotment option in full, which increased the original $550 million offering by 15 percent. The offering was announced Feb. 9 and is expected to close on Feb. 13. Wright Medical, based in Memphis, Tenn., is a leader in specialty orthopedics and surgical solutions and markets its products in more than 60 countries.

The Ropes & Gray team was led by securities & public companies partner Tom Holden (San Francisco) and included tax partner Lee Allison (New York); hedge funds partner Isabel Dische (New York); securities & public companies partner Paul Kinsella (Boston); securities & public companies associate Tara Fisher Oh (all of Boston); and corporate associate Stephen Adams (Boston).

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