Medtronic plc has successfully closed a public offering amounting to €1.5 billion in senior notes. The offering included two tranches: €750 million of 2.950% senior notes due in 2030 and another €750 million of 4.200% senior notes due in 2045. This transaction was carried out through Medtronic, Inc., a wholly-owned indirect subsidiary of the company, and all obligations under the notes are fully guaranteed by Medtronic plc and its subsidiary, Medtronic Global Holdings S.C.A.
The net proceeds from this offering are approximately €1.49 billion, after accounting for underwriting discounts and related expenses. Medtronic plans to utilize these funds primarily for the repayment of its existing senior notes, specifically the 0.000% Senior Notes due in 2025 and the 2.625% Senior Notes due in 2025.
Details of the Offering
The offering was managed by Deutsche Bank AG, London Branch, and Goldman Sachs & Co. LLC, who served as the joint book-running managers. Interested parties can access the prospectus, which outlines the offering details, by visiting the U.S. Securities and Exchange Commission’s EDGAR database at www.sec.gov. Alternatively, copies of the prospectus are available by contacting the managing banks directly.
Medtronic plc, headquartered in Galway, Ireland, is a global leader in healthcare technology. The company aims to tackle some of the most pressing health challenges worldwide, emphasizing its mission to alleviate pain, restore health, and extend life. With a workforce of over 95,000 people across more than 150 countries, Medtronic offers a wide range of medical technologies that treat various health conditions, including cardiac devices, surgical tools, and patient monitoring systems.
Future Outlook
While this offering strengthens Medtronic’s financial position, it also reflects the company’s commitment to reducing debt and enhancing its operational agility. The growth strategy is underpinned by a continuous investment in innovative technologies designed to improve patient outcomes and deliver better healthcare solutions globally.
Medtronic’s forward-looking statements indicate that while the company anticipates using the proceeds from this offering effectively, it also recognizes the risks associated with future events. The company has cautioned stakeholders to consider important risk factors detailed in its filings with the SEC, notably in the “Risk Factors” section of their prospectus.
As Medtronic continues to advance its mission, it remains focused on engineering extraordinary solutions that enhance the lives of patients around the world.
