Medtronic issues $2B in senior notes to refinance JPY term loan

Medtronic plc

Issued $1B of 4.250% Senior Notes due 2028 and $1B of 4.500% Senior Notes due 2033.
Net proceeds of ~$1.98B to prepay portion of ¥297B (~$2.3B) JPY term loan.
Notes fully and unconditionally guaranteed by Medtronic plc and Medtronic, Inc.
Interest expense impact from offering and related transactions expected immaterial.
Underwriters include Barclays, J.P. Morgan, and Mizuho Securities.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Medtronic plc entered into Seventh Supplemental Indenture with Computershare Trust Company, N.A., as trustee valued at $1,000,000,000 aggregate principal amount of its 4.250% Senior Notes due 2028 and $1,000,000,000 agg (effective 2023-03-30).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A., as trustee
Value: $1,000,000,000 aggregate principal amount of its 4.250% Senior Notes due 2028 and $1,000,000,000 agg
Effective: 2023-03-30

Exact text from the filing

The Seventh Supplemental Indenture dated as of March 30, 2023 (the “Seventh Supplemental Indenture” and together with the Sixth Supplemental Indenture and the Base Indenture, the “Indenture”) among Medtronic Luxco, Medtronic, Inc., Medtronic plc and the Trustee.

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Medtronic plc filing history →

Source: SEC EDGAR

accession 0001193125-23-085642

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