Medtronic Announces Public Offering of Senior Notes

Medtronic, Inc.

today announced a registered offering of $675 million of its 3.125% Senior Notes due 2022 and $400 million of its 4.50% Senior Notes due 2042. Medtronic intends to use the net proceeds for working capital and general corporate purposes, which may include repayment of its indebtedness. The Notes will be unsecured obligations of Medtronic and will rank equally with all of Medtronic's existing and future unsubordinated unsecured debt and senior to all of Medtronic's subordinated debt.