DLA Piper has advised Medtronic Global Holdings S.C.A. (Medtronic LuxCo) on its registered public offering (Offering) of a total of USD2 billion notes, consisting in an aggregate principal amount of USD1 billion of 4.250% senior notes due 2028 and USD1 billion aggregate principal amount of 4.5000% senior notes due 2033 (together, Notes) on 30 March 2023. 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.
The joint book-running managers for the Offering are Barclays Capital Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC.
The DLA Piper Luxembourg-based 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 Cyril Poels advised on the tax aspects of the transaction.
