Financial

Medtronic closes $16.8B refinancing

By Fink Densford

Medtronic (NYSE:MDT) said Tuesday it closed its most recent round refinancing, spending over $16.8 billion.

The exchange offers for the refinancing began August 4, 2015 and expired at 11:59 p.m EDT on August 31, according to the company.

The Fridley, Minn.-based medical device giant paid $495 million of a $500 million aggregate principal amount for floating rate senior notes due March 15, 2020. The payment represents 99% of the outstanding principal amount owed, according to the company.

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