Medtronic adjusts conversion rate of 1.625% notes effective April 8

By Tali David

Minneapolis, April 8 - Medtronic Inc. adjusted the conversion rate of its 1.625% convertible senior notes due 2013, according to an 8-K filed with the Securities and Exchange Commission.

The conversion rate was adjusted to 19.1258 common shares per $1,000 principal amount of notes, effective April 8.

The adjustment reflects the payment of regular cash dividends since issuance and is being made on a carry-forward basis.

Medtronic is a medical technology company based in Minneapolis.

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