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Medtronic Completes $1.76 Billion Bond Offering to Refinance 2025 Debt

BY MT Newswires | CORPORATE | 09/29/25 09:14 AM EDT

09:14 AM EDT, 09/29/2025 (MT Newswires) -- Medtronic (MDT) said Monday that its wholly-owned indirect subsidiary has completed a 1.5 billion euros ($1.76 billion) public bond offering, issuing 750 million euros of 2.95% senior notes due 2030 and 750 million euros of 4.2% senior notes due 2045.

The company said all obligations under the notes are fully and unconditionally guaranteed on a senior unsecured basis by Medtronic plc (MDT) and its subsidiary Medtronic Global Holdings.

The offering would generate net proceeds of about 1.49 billion euros after underwriting discounts and related expenses, the company added.

Medtronic (MDT) said the proceeds will be used to repay existing debt, specifically Medtronic Luxco's 0.000% and 2.625% senior notes, both maturing in 2025.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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