WilmerHale Client, Medtronic, Closes Sale of $4.4 Billion Convertible Senior Notes

WilmerHale Client, Medtronic, Closes Sale of $4.4 Billion Convertible Senior Notes

News

WilmerHale client, Medtronic (NYSE: MDT), announced the closing of its sale of $2.2 billion principal amount of Convertible Senior Notes due 2011 and $2.2 billion principal amount of Convertible Senior Notes due 2013 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The aggregate principal amount of Convertible Senior Notes sold reflects the full exercise by the initial purchasers of their option to purchase additional Convertible Senior Notes to cover over-allotments. The net proceeds from this offering were approximately $4.33 billion, after deducting estimated discounts, commissions and expenses.

The WilmerHale legal team was led by Jeff Stein and also included, William Caporizzo, Roger Ritt, John Sigel, Doug Chini, Jonathan Golden and Julie Hogan.