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St. Jude Medical Inc Announces Public Offering of Senior Notes


Thursday, 21 Mar 2013 05:32pm EDT 

St. Jude Medical Inc announced that it has priced an offering to sell $900 million of senior notes due 2023 (the 2023 Notes) and $700 million of senior notes due 2043 (the 2043 Notes). The 2023 Notes will bear interest at 3.25% per year and, unless previously redeemed, will mature on April 15, 2023. The 2043 Notes will bear interest at 4.75% per year and, unless previously redeemed, will mature on April 15, 2043. The Company intends to use the net proceeds to redeem in full its 3.75% senior notes due 2014 of which $700 million aggregate principal amount is outstanding and redeem in full its 4.875% senior notes due 2019 of which $500 million aggregate principal amount is outstanding and for general corporate purposes, which may include the repayment of short-term indebtedness. BofA Merrill Lynch, Wells Fargo Securities and US Bancorp are acting as joint book-running managers for the offering. A shelf registration statement relating to the offering was filed with the U.S. Securities and Exchange Commission on March 21, 2013. This offering was made pursuant to a prospectus supplement to the Company`s prospectus, dated March 21, 2013, filed as part of the Company`s effective shelf registration statement relating to these securities. 

Company Quote

60.46
0.44 +0.73%
24 Oct 2014