DUBLIN, Sept. 21,
2022 /CNW/ -- Medtronic plc (the "Company") (NYSE:
MDT) today announced that its wholly-owned subsidiary Medtronic
Global Holdings S.C.A. ( "Medtronic Luxco") has closed a registered
public offering (the "Offering") of €500,000,000 principal amount
of 2.625% Senior Notes due 2025, €1,000,000,000 principal amount of
3.000% Senior Notes due 2028, €1,000,000,000 principal amount of
3.125% Senior Notes due 2031 and €1,000,000,000 principal amount of
3.375% Senior Notes due 2034 (collectively, the "Notes"). All of
Medtronic Luxco's obligations under the Notes are fully and
unconditionally guaranteed by the Company and Medtronic, Inc., a
wholly-owned indirect subsidiary of Medtronic Luxco, on a senior
unsecured basis.
The net proceeds from the Offering are approximately €3.47
billion, after deducting underwriting discounts and commissions and
estimated expenses related to the Offering payable by Medtronic
Luxco. The net proceeds of the Offering are expected to be used to
repay at maturity Medtronic Luxco's outstanding 0.00% Senior Notes
due 2022, 0.375% Senior Notes due 2023 and 0.00% Senior Notes due
2023 and for general corporate purposes. While Medtronic Luxco may
elect at a later date to repay, redeem or repurchase such notes
prior to maturity, it currently has no intention to repay, redeem
or repurchase such notes prior to maturity.
Information Relating to the Offering
Barclays Bank
PLC, BofA Securities Europe SA, Citigroup Global Markets Limited
and HSBC Continental Europe were the joint book-running managers
for the Offering and Academy Securities, Inc., R. Seelaus &
Co., LLC, Samuel A. Ramirez &
Company, Inc. and Siebert Williams
Shank & Co., LLC were the co-managers for the Offering.
The Offering was made by means of a prospectus and prospectus
supplement, copies of which may be obtained for free by visiting
EDGAR on the U.S. Securities and Exchange Commission website at
www.sec.gov. Alternatively, copies of the prospectus and prospectus
supplement for the Offering may be obtained by contacting Barclays
Bank PLC, toll-free at +1-888-603-5847, BofA Securities Europe SA,
at +33(0) 1 8770 0000, Citigroup Global Markets Limited, toll-free
at +1-800-831-9146 and HSBC Continental Europe, at
+1-866-811-8049.
About Medtronic
Bold thinking. Bolder actions. We are
Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global
healthcare technology company that boldly attacks the most
challenging health problems facing humanity by searching out and
finding solutions. Our Mission — to alleviate pain, restore health,
and extend life — unites a global team of 95,000+ passionate people
across 150 countries. Our technologies and therapies treat 70
health conditions and include cardiac devices, surgical robotics,
insulin pumps, surgical tools, patient monitoring systems, and
more. Powered by our diverse knowledge, insatiable curiosity, and
desire to help all those who need it, we deliver innovative
technologies that transform the lives of two people every second,
every hour, every day. Expect more from us as we empower
insight-driven care, experiences that put people first, and better
outcomes for our world. In everything we do, we are engineering the
extraordinary.
Forward-Looking Statements
This press release may
be deemed to contain forward-looking statements regarding future
events that are subject to the safe harbor created under Private
Securities Litigation Reform Act of 1995 and other safe harbors
under the Securities Act and the Securities Exchange Act of 1934.
All statements other than statements of historical fact are
statements that could be deemed forward-looking statements,
including but without limitation, statements relating to the
expected use of proceeds from the Offering.
You should pay particular attention to the important risk
factors and cautionary statements referenced in the "Risk Factors"
section of the prospectus related to the offering referenced above,
as well as the risk factors and cautionary statements described in
Medtronic plc's filings with the SEC, including the risk factors
contained in Medtronic plc's most recent Annual Report on Form
10-K. Medtronic plc does not undertake to update its
forward-looking statements.
Contacts:
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Erika
Winkels
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Ryan
Weispfenning
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Public
Relations
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Investor
Relations
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+1-763-526-8478
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+1-763-505-4626
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SOURCE Medtronic plc