DLA Piper advises Medtronic on public offering of EUR3.5 billion of senior notes
Global law firm DLA Piper has advised Medtronic Global Holdings S.C.A. (Medtronic LuxCo) on its registered public offering (Offering) of EUR500 million aggregate principal amount of 2.625% senior notes due 2025, EUR1 billion aggregate principal amount of 3.000% senior notes due 2028, EUR1 billion aggregate principal amount of 3.125% senior notes due 2031, EUR1 billion principal amount of 3.375% senior notes due 2034 (Notes) on 21 September 2022. All of Medtronic LuxCo’s obligations under the Notes are fully and unconditionally guaranteed by Medtronic plc and Medtronic Inc., a wholly-owned indirect subsidiary of Medtronic LuxCo, on a senior unsecured basis.
Barclays Bank PLC, BofA Securities Europe SA, Citigroup Global Markets Limited and HSBC Continental Europe were the joint book-running managers for the offering.
The Luxembourg-based DLA Piper team was led by Finance, Projects & Restructuring partner Laurent Massinon, who was supported by senior associate Christina Nickel and associate Magdalena Balcells. Partner Jacques Wantz, senior associate Emre Akan and associate Delphine Martel advised on the tax aspects of the transaction.
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. Its mission,to alleviate pain, restore health, and extend life, unites a global team of over 95,000 passionate people across 150 countries.