Stryker intends to sell notes due 2028 via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Dec. 5 – Stryker Corp. plans to issue notes due 2028, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call until some months before maturity before transitioning to a par call. There is also a change-of-control put at 101.

Citigroup Global Markets Inc., BNP Paribas Securities Corp., BofA Securities, Inc. and U.S. Bancorp Investments, Inc. are the bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Sullivan & Cromwell LLP and Warner Norcross + Judd LLP will represent Stryker. Sidley Austin LLP is legal counsel for the underwriters.

Proceeds will be used for general corporate purposes.

Additionally, the company also said it expects to launch an offering of euro-denominated notes soon, subject to market conditions.

Stryker is a Kalamazoo, Mich.-based medical technology company.

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