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Medtronic Unveils Details Of $1.08 Billion Debt Sale

DOW JONES NEWSWIRES Medtronic Inc. (MDT) unveiled details of its sale of nearly $1.08 billion of debt in two series of senior notes as the medical-devices maker raises funds for working capital and other purposes, which may include debt repayments. Medtronic sold $675 million of 10-year notes priced to yield 3.161%, or 0.90 percentage points over Treasurys, and $400 million of 30-year notes priced to yield 4.51%, or 1.1 points over Treasurys. The pricing of each bond was 0.05 points tighter than earlier guidance, indicating broad demand. Medtronic's debt sale is one of at least four sizable issues in the U.S. bond market Wednesday amid signs that investor demand for risky assets is holding up, particularly after the Federal Reserve indicated Tuesday most of the biggest U.S. banks passed the latest round of stress tests. The company, which has continued to see challenges in its key cardiac rhythm and spine business, last month reported that its fiscal third-quarter earnings rose 1.2% thanks to fewer charges and the impact of shedding its Physio-Control business. Shares were down 10 cents at $38.56 in recent trading. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Medtronic (MDT)
DateTimeHeadline
12/05/201606:25:26Statement of Changes in Beneficial Ownership (4)
12/02/201613:08:00Medtronic Files 8K - Changes Executive Management
12/02/201612:39:19Current Report Filing (8-k)
12/01/201609:30:36Medtronic Announces Reimbursement Approval and Launch of CoreValve(TM...
11/29/201610:00:22Medtronic Announces U.S. Launch of Integrated Health Solutions...
11/29/201609:00:16Medtronic First to Receive European Approval for Less-Invasive...
11/23/201612:33:46Statement of Changes in Beneficial Ownership (4)
11/22/201613:00:00Medtronic Cuts Guidance on Sluggish Revenue -- 2nd Update
11/22/201611:31:00Medtronic Cuts Guidance on Sluggish Revenue -- Update
11/22/201609:44:00U.S. Hot Stocks: Hot Stocks to Watch
11/22/201608:40:00Medtronic Cuts Guidance on Sluggish Revenue
11/22/201608:31:00Medtronic Cuts Guidance on Sluggish Revenue
11/22/201606:48:59Current Report Filing (8-k)
11/22/201606:45:37Medtronic Reports Second Quarter Financial Results
11/17/201616:30:13New Data Show Medtronic Heli-FX EndoAnchor System Enhances Outcomes...
11/16/201610:00:32Medtronic Releases FY16 Integrated Performance Report
11/16/201607:01:41Medtronic's Solitaire(TM) Stent Retriever Device Receives Expanded...
11/15/201611:15:12Medtronic's Endurant(TM) II/IIs Stent Graft System Delivers Positive...
11/14/201612:00:29Medtronic to Unveil Data Supporting Endovascular Treatments for...
11/14/201609:15:14Medtronic Receives FDA Approval for Claria MRI(TM) Quad Cardiac...

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