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Stryker Closes $3.5B Notes Offering

Friday, March 11, 2016   (0 Comments)
Posted by: Kate Oesterle
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Stryker (NYSE:SYK) said today that it closed a senior notes offering worth $3.5 billion.

The 4-tranche flotation consisted of $750 million in 3-year, 2.0% fixed notes due in March 2019; $750 million in 5-year 2.625% fixed notes due in March 2021; $1.0 billion in 10-year 3.5% fixed notes due in March 2026; and another $1.0 billion in 30-year 4.625% fixed notes due in March 2046.

The Kalamazoo, Mich.-based medical device maker said the net proceeds are earmarked for the acquisitions of Sage Products and Physio-Control, plus the repayment of all of its 2.0% notes due Sept. 30 and general corporate purposes.

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