The offering includes €1.25 billion in 0% senior notes due 2023, €1 billion in 0% notes due 2025, €1 billion in 0.375% notes due 2028, €1 billion in 0.75% notes due 2032, €1 billion in 1.375% notes due 2040 and €1 billion in 1.625% notes due 2050.
Altogether, the notes from its Medtronic Global Holdings S.C.A (“Medtronic Luxco”) subsidiary total the $7.3 billion (€6.25 billion) and Medtronic Luxco’s obligations will be fully and unconditionally guaranteed by Medtronic on a senior, unsecured business.
According to a news release, the proceeds collected from the offering will be used to repay Medtronic Luxco’s outstanding floating rate senior notes due 2021 at maturity on March 7, 2021. Medtronic expects the offering to close on Sept. 29, 2020.
The joint book-running managers for the Offering are Barclays Bank PLC, BofA Securities Europe SA, Mizuho Securities Europe GmbH and Deutsche Bank Aktiengesellschaft.