The world’s largest pure-play medtech maker said it expects to issue $250 million in 0.9% notes due in 2017; another $250 million in floating rate notes due the same year; $850 million in 3.6% notes due in 2024; and $650 million in 4.6% notes due in 2044.
The offering is slated to close Feb. 27, according to a press release. Medtronic said it could use the proceeds for working capital and general corporate purposes, "which may include repayment of its indebtedness," according to the release.
Medtronic this week won both CE Mark approval and 510(k) clearance from the FDA this week for its Reveal LINQ cardiac monitor. A study of its Reveal XT monitor, also released this week, found that the device better detected atrial fibrillation than the current standard of care for stroke patients.