Medtronic Announces Pricing of $2 Billion of Senior Notes
22 March 2017 - 11:00AM
DUBLIN - March 21, 2017 - Medtronic plc (NYSE: MDT) announced today
that its wholly-owned subsidiary, Medtronic Global Holdings S.C.A.
("Medtronic Luxco"), has priced an offering of $1,000,000,000
principal amount of 1.700 percent senior notes due 2019 and
$850,000,000 principal amount of 3.350 percent senior notes due
2027 (collectively, the "notes"). All of Medtronic Luxco's
obligations under the notes will be fully and unconditionally
guaranteed by Medtronic plc and Medtronic, Inc., a wholly-owned
indirect subsidiary of Medtronic Luxco, on a senior unsecured
basis.
Medtronic also announced today that, concurrently
with the offering by Medtronic Luxco, Medtronic, Inc. has priced an
offering of $150,000,000 in principal amount of its 4.625 percent
Senior Notes due 2045 (the "reopening notes"). The reopening notes
will be a further issuance of, and will form a single series with,
the $4,000,000,000 principal amount of Medtronic, Inc.'s currently
outstanding 4.625 percent Senior Notes due 2045, and will be fully
and unconditionally guaranteed by Medtronic Luxco and Medtronic plc
on a senior unsecured basis. The offerings of the notes and the
reopening notes are each being conducted pursuant to an effective
registration statement under the Securities Act of 1933, as amended
(the "Securities Act").
The net proceeds of the offerings will be used for
general corporate purposes. The offerings are expected to close on
March 28, 2017, subject to customary closing conditions.
The joint book-running managers for the offerings
are Citigroup Global Markets Inc., Goldman, Sachs & Co., Morgan
Stanley & Co. LLC and Wells Fargo Securities, LLC. The
co-managers for the offerings are BNP Paribas Securities Corp.,
Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and
Mizuho Securities USA Inc.
The offerings of the notes and the reopening notes
may be made only by means of a prospectus and prospectus
supplement. You may get these documents for free by visiting EDGAR
on the Securities and Exchange Commission ("SEC") website at
www.sec.gov. Alternatively, copies of the prospectus and prospectus
supplement for each offering may be obtained from 20 On Hatch,
Lower Hatch Street Dublin 2, Ireland, or by contacting Citigroup
Global Markets Inc., toll-free at +1-800-831-9146, Goldman, Sachs
& Co., toll-free at +1-866-471-2526 or Morgan Stanley & Co.
LLC, toll-free at +1-866-718-1649.
About Medtronic
Medtronic plc, headquartered in Dublin, Ireland, is among the
world's largest medical technology, services and solutions
companies - alleviating pain, restoring health and extending life
for millions of people around the world. Medtronic employs more
than 88,000 people worldwide, serving physicians, hospitals and
patients in approximately 160 countries. The company is focused on
collaborating with stakeholders around the world to take healthcare
Further, Together.
Forward-Looking
Statements
This press release may be deemed to contain
forward-looking statements regarding future events and the
company's future results that are subject to the safe harbor
created under Private Securities Litigation Reform Act of 1995 and
other safe harbors under the Securities Act and the Securities
Exchange Act of 1934. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements, including but without limitation, statements relating
to the offerings of the notes and the reopening notes and the use
of proceeds therefrom, and the expected closing date of the
offering of the notes and the reopening notes.
You should pay particular
attention to the important risk factors and cautionary statements
referenced in the "Risk Factors" section of the prospectuses
related to the offerings referenced above, as well as the risk
factors and cautionary statements described in Medtronic plc's
filings with the SEC, including the risk factors contained in each
of Medtronic plc's most recent Quarterly Reports on Form 10-Q and
Annual Report on Form 10-K. Medtronic plc does not undertake to
update its forward-looking statements.
-end-
Contacts:
Fernando Vivanco
Public Relations
+1-763-505-3780
Ryan Weispfenning
Investor Relations
+1-763-505-4626
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
Medtronic (NYSE:MDT)
Historical Stock Chart
From Mar 2024 to May 2024
Medtronic (NYSE:MDT)
Historical Stock Chart
From May 2023 to May 2024