DLA Piper advises Medtronic on public offering of EUR6.25 billion of senior notes and redemption of outstanding senior notes

DLA Piper has advised Medtronic Global Holdings S.C.A. (Medtronic LuxCo) on its registered public offering on 29 September 2020 (the “Offering”) of EUR1.25 billion principal amount of 0.000% senior notes due 2023, EUR1 billion principal amount of 0.000% senior notes due 2025, EUR1 billion principal amount of 0.375% senior notes due 2028, EUR1 billion principal amount of 0.750% senior notes due 2032, EUR1 billion principal amount of 1.375% senior notes due 2040 and EUR1 billion principal amount of 1.625% senior notes due 2050 (the “Notes”).

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, Mizuho Securities Europe GmbH and Deutsche Bank Aktiengesellschaft were the joint book-running managers for the Offering.

DLA Piper has also advised Medtronic LuxCo on the redemption of the outstanding senior notes issued by Medtronic LuxCo, Medtronic, Inc. and Covidien International Finance S.A.

The DLA Piper Luxembourg-based team was led by Finance and Projects partner Laurent Massinon, supported by senior legal advisor Christina Nickel and associate Tiziana Olivetti. Partner Jacques Wantz, and associates Emre Akan and Cyril Poels advised on the tax aspects of the transaction.

Headquarter in Dublin, Medtronic plc is among the world’s largest medical technology, services and solutions companies - alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries.