ST. PAUL, Minn. -- (Business Wire)
St. Jude Medical, Inc. (NYSE:STJ) today 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
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.
Copies of the prospectus supplement and accompanying prospectus relating
to these securities may be obtained by contacting St. Jude Medical, One
St. Jude Medical Drive, St. Paul, Minnesota 55117, Attention: Investor
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or other
About St. Jude Medical
St. Jude Medical develops medical technology and services that focus on
putting more control into the hands of those who treat cardiac,
neurological and chronic pain patients worldwide. The company is
dedicated to advancing the practice of medicine by reducing risk
wherever possible and contributing to successful outcomes for every
patient. St. Jude Medical is headquartered in St. Paul, Minn., and has
four major focus areas that include cardiac rhythm management, atrial
fibrillation, cardiovascular and neuromodulation. For more information,
please visit sjm.com.
This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. Such forward-looking statements include those
regarding the Company's planned offering and the anticipated use of
proceeds. The statements made by the Company are based upon management’s
current expectations and are subject to certain risks and uncertainties.
These risks and uncertainties include market conditions and other
factors beyond the Company’s control and the risk factors and other
cautionary statements described in the Company’s filings with the SEC,
including those described in the Risk Factors and Cautionary Statements
sections of the Company’s Annual Report on Form 10-K for the fiscal year
ended December 29, 2012. The Company does not intend to update these
statements and undertakes no duty to any person to provide any such
update under any circumstance.
St. Jude Medical, Inc.
J.C. Weigelt, 651-756-4347
Source: St. Jude Medical, Inc.
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