Davis Polk advised Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint book-running managers on a $3 billion registered notes offering by Medtronic, Inc. The notes were issued in three tranches: $1 billion aggregate principal amount of 1.375% senior notes due 2018, $1.25 billion aggregate principal amount of 2.75% senior notes due 2023 and $750 million aggregate principal amount of 4.000% senior notes due 2043.
Headquartered in Minneapolis, Minnesota, Medtronic is a global leader in medical technology—alleviating pain, restoring health and extending life for millions of people around the world. Medtronic develops, manufactures and markets medical devices in more than 120 countries worldwide.
The Davis Polk corporate team included partner Richard A. Drucker, associate Alain Kuyumjian and law clerk Siew Kwok. Partner Samuel Dimon and associate Juelle Gomes provided tax advice. Sorina D. Lazar was the legal assistant for the transaction. All members of the Davis Polk team are based in the New York office.
