Stryker prices $600M senior notes offering: 4 highlights

Stryker announced the pricing of a $600 million offering of senior unsecured notes due 2028.

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Here are four highlights:

 

1. The company’s notes have a 3.65 percent annual interest rate.

 

2. Stryker’s offering is expected to settle March 7, subject to customary closing conditions.

 

3. Stryker plans to use the proceeds to repay $600 million of the company’s previous 1.30 percent notes due April 1.

 

4. Goldman Sachs & Co., Morgan Stanley and Wells Fargo are active joint book running managers for Stryker’s offering.

 

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