STERIS Irish FinCo Unlimited Company filed a free writing prospectus on November 9, 2026, disclosing the pricing terms for two tranches of senior notes totaling $1,500,000,000, with settlement expected on November 24, 2026.

Key Highlights

  • Two tranches, $750 million each: $750,000,000 of 5.650% senior notes due December 15, 2033, and $750,000,000 of 5.875% senior notes due December 15, 2036.
  • Issue prices: The 2033 notes were priced at 99.782% of face amount; the 2036 notes at 99.852% of face amount.
  • Yields to maturity: 5.687% for the 2033 notes and 5.894% for the 2036 notes, at spreads of 92 basis points and 102 basis points above their respective benchmark Treasuries.
  • Guarantors: STERIS plc, STERIS Corporation, and STERIS Limited are listed as guarantors of both series.
  • Credit ratings: The notes carry ratings of Baa1 (stable) / BBB (stable) / BBB (stable) from Moody's, S&P, and Fitch, respectively.
  • Settlement on T+10: Trade date is November 9, 2026, with settlement expected November 24, 2026, on a T+10 cycle.
  • Intended NYSE listing: According to the filing, the Issuer intends to list the notes on The New York Stock Exchange.

STERIS Irish FinCo Discloses Final Pricing on $1.5 Billion Two-Part Senior Note Offering

According to the free writing prospectus filed pursuant to Rule 433, STERIS Irish FinCo Unlimited Company priced two series of senior notes on November 9, 2026. The 2033 notes carry a coupon of 5.650% and were priced at 99.782% of face amount, yielding 5.687% to maturity. The 2036 notes carry a coupon of 5.875% and were priced at 99.852% of face amount, yielding 5.894% to maturity. Both series pay interest on June 15 and December 15 of each year, commencing June 15, 2027.

The filing states that the benchmark Treasury for the 2033 notes is the 4.875% due October 31, 2033, priced at 100-20 1/4 to yield 4.767%, resulting in a spread of 92 basis points. For the 2036 notes, the benchmark is the 4.625% due August 15, 2036, priced at 98-02+ to yield 4.874%, resulting in a spread of 102 basis points. Minimum denominations are $150,000 and integral multiples of $1,000 in excess thereof.

The filing describes optional redemption terms for each series. The 2033 notes may be redeemed prior to October 15, 2033, at a make-whole rate plus 15 basis points, and at par on or after that date. The 2036 notes may be redeemed prior to September 15, 2036, at a make-whole rate plus 20 basis points, and at par on or after that date. The filing also notes that the notes are subject to a special mandatory redemption as described in the preliminary prospectus supplement, and are putable upon a Change of Control Triggering Event at 101% of principal plus accrued and unpaid interest. Joint book-running managers include J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., BofA Securities, Inc., PNC Capital Markets LLC, and Wells Fargo Securities, LLC.

What Was Disclosed

STERIS Irish FinCo Unlimited Company disclosed the final pricing terms for $1,500,000,000 in senior notes across two maturities, including coupon rates, issue prices, yields, benchmark spreads, redemption provisions, CUSIP and ISIN identifiers, and an intended NYSE listing.