Stryker Corporation announces pricing of $600 million senior notes offering
February 26 2018 - 5:11PM
Kalamazoo, Michigan - February 26, 2018 - Stryker
Corporation (NYSE:SYK) announced today that it has priced an
offering to sell $600 million of senior unsecured notes due 2028
(the "Notes"). The Notes will bear interest at 3.650% per
year and, unless previously redeemed, will mature on March 7,
2028. The Notes are expected to settle on March 7, 2018,
subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from
the offering to repay $600 million of the Company's 1.300% notes
due April 1, 2018 at maturity.
Goldman Sachs & Co. LLC, Morgan Stanley and
Wells Fargo Securities are acting as active joint book-running
managers for the offering. This offering was made pursuant to a
prospectus supplement, filed today, to the Company's prospectus,
dated February 12, 2016, filed as part of the Company's effective
shelf registration statement. Copies of the preliminary prospectus
supplement and accompanying prospectus relating to the notes may be
obtained by contacting: (i) Goldman Sachs & Co. LLC, Prospectus
Department, 200 West Street, New York, NY 10282, or by calling
(866) 471-2526, by faxing (212) 902-9316 or emailing
prospectus-ny@ny.email.gs.com, (ii) Morgan Stanley & Co. LLC,
180 Varick Street, New York, NY 10014, Attention: Prospectus
Department, or by calling (866) 718-1649 or
emailing prospectus@morganstanley.com or (iii) Wells Fargo
Securities, LLC, 608 2nd Avenue
South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer
Service, or by calling (800) 645-3751 or emailing
wfscustomerservice@wellsfargo.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities nor
will there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
Caution Concerning Forward
Looking Statements
This press release contains information that
includes or is based on forward-looking statements within the
meaning of the federal securities law that are subject to various
risks and uncertainties that could cause our actual results to
differ materially from those expressed or implied in such
statements. Such factors include, but are not limited to: weakening
of economic conditions that could adversely affect the level of
demand for our products; pricing pressures generally, including
cost-containment measures that could adversely affect the price of
or demand for our products; changes in foreign exchange markets;
legislative and regulatory actions; unanticipated issues arising in
connection with clinical studies and otherwise that affect U.S.
Food and Drug Administration approval of new products; potential
supply disruptions; changes in reimbursement levels from
third-party payors; a significant increase in product liability
claims; the ultimate total cost with respect to the Rejuvenate and
ABG II matter; the impact of investigative and legal proceedings
and compliance risks; resolution of tax audits; the impact of the
federal legislation to reform the United States healthcare system;
changes in financial markets; changes in the competitive
environment; our ability to integrate acquisitions; and our ability
to realize anticipated cost savings. Additional information
concerning these and other factors is contained in our filings with
the U.S. Securities and Exchange Commission, including our Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q.
Stryker is one of the world's leading medical
technology companies and, together with its customers, is driven to
make healthcare better. The Company offers innovative products and
services in Orthopaedics, Medical and Surgical, and Neurotechnology
and Spine that help improve patient and hospital outcomes.
Contacts
For investor inquiries please
contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or
katherine.owen@stryker.com
For media inquiries please
contact:
Yin Becker, Stryker Corporation, 269-385-2600 or
yin.becker@stryker.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Stryker Corporation via Globenewswire
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