Medtronic drums up three times subscription for €6.25bn deal

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By Mike Turner
24 Sep 2020

Medtronic, the US medical devices company, garnered more than €19bn of demand for a €6.25bn six tranche bond issue on Thursday, including a sizeable oversubscription for the 30 year tranche, which some syndicate officials had said might be tough to place.


The A3/A rated company announced a five tranche deal on Wednesday spanning five to 30 years, but added a 2.5 year note when it opened books on Thursday morning. Bank of America, Barclays, Deutsche Bank and Mizuho ran the deal.

Medtronic marketed all the tranches as benchmarks. The March ...

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