Medtronic announces closing of public offering of €3.5 billion of senior notes
( "Medtronic Luxco") has closed a registered public offering (the "Offering") of 500,000,000 principal amount of 2.625% Senior Notes due 2025, 1,000,000,000 principal amount of 3.000% Senior Notes due 2028, 1,000,000,000 principal amount of 3.125% Senior Notes due 2031 and 1,000,000,000 principal amount of 3.375% Senior Notes due 2034 (collectively, the "Notes").
- ( "Medtronic Luxco") has closed a registered public offering (the "Offering") of 500,000,000 principal amount of 2.625% Senior Notes due 2025, 1,000,000,000 principal amount of 3.000% Senior Notes due 2028, 1,000,000,000 principal amount of 3.125% Senior Notes due 2031 and 1,000,000,000 principal amount of 3.375% Senior Notes due 2034 (collectively, the "Notes").
- All of Medtronic Luxco's obligations under the Notes are fully and unconditionally guaranteed by the Company and Medtronic, Inc., a wholly-owned indirect subsidiary of Medtronic Luxco, on a senior unsecured basis.
- The net proceeds from the Offering are approximately 3.47 billion, after deducting underwriting discounts and commissions and estimated expenses related to the Offering payable by Medtronic Luxco.
- The net proceeds of the Offering are expected to be used to repay at maturity Medtronic Luxco's outstanding 0.00% Senior Notes due 2022, 0.375% Senior Notes due 2023 and 0.00% Senior Notes due 2023 and for general corporate purposes.