Medtronic (NYSE:MDT) late yesterday priced an upcoming approximately $7.9 billion (EU €7 billion) debt offering.
The Fridley, Minn.-based company said that it will use funds raised from the round to fund previously announced tender offers for outstanding notes, while any remaining proceeds will go towards repaying outstanding 1.7% senior notes due 2019 set to mature on March 28.
Medtronic said it will offer approximately $564.7 million (EU €500 million) in floating rate senior notes due 2021, $1.69 billion (EU €1.5 billion) in 0% senior notes due 2021, $1.69 billion (EU €1.5 billion) in 0.375% senior notes due 2023, $1.69 billion (EU €1.5 billion) in 1.125% senior notes due 2027, approximately $1.13 billion (EU €1 billion) in 1.625% senior notes due 2031 and $1.13 billion (EU €1 billion) in 2.25% senior notes due 2039, according to a press release.
The senior note offering is set to close on March 7, the company said, adding that Barclays Bank and Merrill Lynch International are acting as joint book-runners for the offering.
Last month, Medtronic announced a cash tender offer for up to $5 billion in outstanding debt, according to recently posted SEC filing.
The post Medtronic prices $8B EU-based debt offering appeared first on MassDevice.
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