Medtronic Inc. (MDT) filed a Form 8K - Direct or off-Balance
Sheet Financial Obligation - with the U.S Securities and Exchange
Commission on January 26, 2015.
On January 26, 2015, Medtronic borrowed $3.0 billion for a term
of three years under that certain Senior Unsecured Term Loan Credit
Agreement (the "Term Loan Credit Agreement"), among Medtronic, New
Medtronic, Medtronic Luxco, the lenders from time to time party
thereto and Bank of America, N.A., as administrative agent, to
finance, in part, the cash component of the Scheme Consideration
and certain transaction expenses. New Medtronic and Medtronic Luxco
have guaranteed the obligations of Medtronic under the Term Loan
Credit Agreement. For more information regarding the Term Loan
Credit Agreement, see the Current Report on Form 8-K filed by
Medtronic on November 10, 2014 and the exhibits thereto, which are
incorporated herein by reference.
On January 26, 2015, Medtronic amended and restated its existing
$2.25 billion five-year senior unsecured revolving credit facility
and entered into the Amended and Restated Credit Agreement
($3,500,000,000 Five Year Revolving Credit Facility) dated as of
January 26, 2015 (the "Amended and Restated Revolving Credit
Agreement"), by and among Medtronic, New Medtronic, Medtronic
Luxco, the lenders from time to time party thereto and Bank of
America, N.A., as administrative agent and issuing bank. Under the
Amended and Restated Revolving Credit Agreement, the lenders party
thereto will provide Medtronic and Medtronic Luxco with unsecured
revolving credit commitments in an aggregate principal amount of up
to $3.5 billion. Medtronic and Medtronic Luxco will be co-borrowers
under the Amended and Restated Revolving Credit Agreement, and each
of Medtronic, Medtronic Luxco and New Medtronic will also guarantee
the obligations of the co-borrowers under the Amended and Restated
Revolving Credit Agreement. For more information regarding the
Amended and Restated Revolving Credit Agreement, see the Current
Report on Form 8-K filed by Medtronic on November 10, 2014 and the
exhibits thereto, which are incorporated herein by reference. The
Amended and Restated Revolving Credit Agreement is filed within
Exhibit 10.1 to this Current Report and is incorporated herein by
reference.
The information set forth in Item 1.01 of this Current Report on
Form 8-K (other than the information set forth under the heading
"Registration Rights Agreement Joinder") is incorporated by
reference into this Item 2.03.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/64670/000119312515020704/d860001d8k.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/64670/000119312515020704/0001193125-15-020704-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
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