Medtronic, Inc. (NYSE:MDT) has announced a public offering of its senior notes. The offering includes $1.25 billion of the company’s 3.0% Senior Notes due 2015, $1.25 billion of its 4.45% Senior Notes due 2020, and $500 million of its 5.55% Senior Notes due 2040. The net proceeds from the offering will be used for working capital and general corporate purposes, including the repayment of its indebtedness. The Notes being offered are senior unsecured and unsubordinated obligations of the company. They will rank equally with the company’s existing and future senior unsecured debt and senior to the company’s subordinated debt.
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Medtronic, Inc. (Medtronic) is a global player in medical technology. The Company operates in seven segments that manufacture and sell device-based medical therapies: Cardiac Rhythm Disease Management, Spinal, CardioVascular, Neuromodulation, Diabetes, Surgical Technologies and Physio-Control. Through these seven segments, the Company develops, manufactures and markets its medical devices in more than 120 countries. Its primary products include those for cardiac rhythm disorders, cardiovascular disease, neurological disorders, spinal conditions and musculoskeletal trauma, urological and digestive disorders, diabetes, and ear, nose and throat conditions. The primary markets for products are the United States, Western Europe and Japan. In July 2008, it acquired Restore Medical, Inc. In November 2008, Medtronic acquired CryoCath Technologies Inc. In February 2009, it acquired Ablation Frontiers, Inc. and Ventor Technologies Ltd. In April 2009, Medtronic acquired CoreValve, Inc.
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