Covidien Announces Senior Notes Offering and Redemption of 5.450% Senior Notes Due October 2012
Covidien plc (NYSE: COV) today announced that its wholly-owned subsidiary, Covidien International Finance S.A. (CIFSA), launched an underwritten offering of senior notes (the “Notes”). These notes will be fully and unconditionally guaranteed on a senior unsecured basis by Covidien plc and its subsidiary, Covidien Ltd. CIFSA intends to use the proceeds from the offering to finance the redemption of all of its outstanding 5.450% senior notes due October 2012 and for general corporate purposes.
On May 22, 2012, CIFSA called for redemption all of its outstanding 5.450% senior notes due October 2012 (the “Maturing Notes”), which were issued pursuant to an Indenture dated as of October 22, 2007, as supplemented and amended from time to time (the “Indenture”), among CIFSA, as issuer, Covidien plc and Covidien Ltd., as guarantors, and Deutsche Bank Trust Company Americas, as trustee.
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