Medtronic (MDT) Prices EUR 3B Notes Offering

Medtronic plc (NYSE: MDT) announced today that its wholly-owned indirect subsidiary, Medtronic, Inc., has priced an offering (the "Offering") of €850,000,000 principal amount of 3.650% senior notes due 2029, €850,000,000 principal amount of 3.875% senior notes due 2036, €600,000,000 principal amount of 4.150% senior notes due 2043, and €700,000,000 principal amount of 4.150% senior notes due 2053 (collectively, the "Notes"). All of Medtronic, Inc.'s obligations under the Notes will be fully and unconditionally guaranteed by the Company and Medtronic Global Holdings S.C.A., a wholly-owned subsidiary of the Company and the indirect parent of Medtronic, Inc., on a senior unsecured basis.

The net proceeds of the Offering are expected to be used for general corporate purposes, which may include repayment of outstanding commercial paper and other indebtedness. The Offering is expected to close on June 3, 2024, subject to customary closing conditions. The joint book-running managers for the Offering are Citigroup Global Markets Limited, J.P. Morgan Securities plc, Merrill Lynch International and Mizuho International plc.

The Offering is being made only by means of a prospectus dated March 3, 2023, and prospectus supplement (together, the "Prospectus"). You may get these documents for free by visiting EDGAR on the U.S. Securities and Exchange Commission website at www.sec.gov. Alternatively, copies of the Prospectus may be obtained by contacting Citigroup Global Markets Limited, toll-free at +1 800 831 9146, J.P. Morgan Securities plc at +44 20 7134 2468 (non-U.S. investors), or J.P. Morgan Securities LLC collect at +1 212 834 4533 (U.S. investors), Merrill Lynch International, toll free at +1 800 294 1322 and Mizuho International plc, at +44 20 7248 3920.

You May Also Be Interested In

• Piper Sandler: PFA survey is most positive for Medtronic, Inc. (MDT)
• Citi cuts TJX Companies rating to Neutral, lowers price target
• Artelo Biosciences wins Japan patent allowance for ART27.13