Medtronic plc (MDT) announced that its wholly-owned indirect subsidiary, Medtronic, Inc., has priced an offering of 750 million euros principal amount of 2.950% senior notes due 2030 and 750 million euros principal amount of 4.200% senior notes due 2045.
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. ("Medtronic Luxco"), a wholly-owned subsidiary of the Company and the indirect parent of Medtronic, Inc., on a senior unsecured basis.
The company expects to use net proceeds from the Offering to repay Medtronic Luxco's 0.000% Senior Notes due 2025 and Medtronic Luxco's 2.625% Senior Notes due 2025. The Offering is expected to close on September 29, 2025. The joint book-running managers for the Offering are Deutsche Bank AG, London Branch and Goldman Sachs & Co. LLC.
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