Stryker Corp. (SYK) said it has priced an offering to sell $600 million of senior unsecured notes due 2018 and $400 million of senior unsecured notes due 2043. The 2018 notes would bear interest at 1.300% per annum and, unless redeemed earlier, would mature on April 1, 2018; while the 2043 notes would bear interest at 4.100% per year and, unless previously redeemed, would mature on April 1, 2043.
The company plans to use the net proceeds from the offering for working capital and other general corporate purposes, including acquisitions, stock repurchases and other business opportunities. Barclays, BofA Merrill Lynch, and Goldman Sachs are acting as active joint book-running managers for the offering.
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