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Medtronic holders put $625,000 of 1.25% convertibles
Pittsburgh, Sept. 16 - Medtronic Inc. said holders elected to put $625,000 of its 1.25% contingent convertible debentures due 2021, or 0.03% of the debentures outstanding at a price of par plus accrued interest, according to a company news release.
The company initially issued $2.01 billion of the debentures in September 2001 in connection with the purchase of MiniMed Inc. and Medical Research Group Inc. Prior to this put, $1.97 billion remained outstanding after a previous put in September 2002.
The next put date is Sept. 15, 2006, the release said. This is also the first date that Medtronic can call the debentures.
Medtronic is a Minneapolis-based medical technology company.
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