2013-03-20 21:24:55 -
Stryker Corporation (NYSE:SYK) announced today that it has priced an offering to
sell $600 million of senior unsecured notes due 2018 (the "2018 Notes") and $400
million of senior unsecured notes due 2043 (the "2043 Notes"). The 2018 Notes
will bear interest at 1.300% per year and, unless previously redeemed, will
mature on April 1, 2018. The 2043 Notes will bear interest at 4.100% per year
and, unless previously redeemed, will mature on April 1, 2043.
The Company intends to use the net proceeds from the offering for working
capital and other general corporate purposes, including acquisitions, stock
repurchases and other business opportunities.
Barclays, BofA Merrill Lynch, and Goldman Sachs are acting as active joint book-
running managers for the offering. This offering was made pursuant to a
prospectus supplement to
the Company's prospectus, dated February 28, 2013,
filed as part of the Company's effective shelf registration statement. Copies
of the preliminary prospectus supplement and accompanying prospectus relating to
the notes may be obtained by contacting the joint book-running managers:
Barclays Capital Inc., Attention: Prospectus Department, 745 Seventh Avenue, New
York, New York 102825, or by calling 888-603-5847, or by emailing
barclaysprospectus@broadridge.com; Goldman, Sachs & Co., Attention: Prospectus
Department, 200 West Street, New York, New York 10282, or by calling
866-471-2526, or by emailing
prospectus-ny@ny.email.gs.com; and Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Attention: Prospectus Department, 222
Broadway, 11(th) Floor, New York, New York 10038, or by calling 800-294-1322, or
by emailing
Dg.prospectus_requests@baml.com.
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 jurisdiction.
This press release contains information that includes or is based on forward-
looking statements within the meaning of the federal securities law that are
subject to various risks and uncertainties that could cause our actual results
to differ materially from those expressed or implied in such statements. Such
factors include, but are not limited to: weakening of economic conditions that
could adversely affect the level of demand for our products; pricing pressures
generally, including cost-containment measures that could adversely affect the
price of or demand for our products; changes in foreign exchange markets;
legislative and regulatory actions; unanticipated issues arising in connection
with clinical studies and otherwise that affect U.S. Food and Drug
Administration approval of new products; changes in reimbursement levels from
third-party payors; a significant increase in product liability claims; the
ultimate total cost with respect to the Rejuvenate and ABG II matter; the impact
of investigative and legal proceedings and compliance risks; resolution of tax
audits; the impact of the federal legislation to reform the United States
healthcare system and the 2.3 percent medical device excise tax; changes in
financial markets; changes in the competitive environment; our ability to
integrate acquisitions, including the acquisition of Trauson Holdings Company
Limited; and our ability to realize anticipated cost savings as a result of
workforce reductions and other restructuring activities. Additional information
concerning these and other factors are contained in our filings with the U.S.
Securities and Exchange Commission, including our Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q.
Stryker is one of the world's leading medical technology companies and is
dedicated to helping healthcare professionals perform their jobs more
efficiently while enhancing patient care. The Company offers a diverse array of
innovative medical technologies, including reconstructive, medical and surgical,
and neurotechnology and spine products to help people lead more active and more
satisfying lives.
Contacts
For media inquiries please contact:
Yin Becker, Stryker Corporation, 201-831-5000 or
yin.becker@stryker.com
For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or
katherine.owen@stryker.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Stryker Corporation via Thomson Reuters ONE
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