Medtronic Announces Public Offering of Senior Notes

Medtronic, Inc. MDT today announced a registered offering of $500 million of its 2.625% Senior Notes due 2016 and $500 million of its 4.125% Senior Notes due 2021. Medtronic intends to use the net proceeds for working capital and general corporate purposes, which may include repayment of its indebtedness.

The Notes will be senior, unsecured obligations of Medtronic and will rank equally with all of Medtronic's existing and future senior, unsecured debt and senior to all of Medtronic's subordinated debt.