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Stryker selling five-year notes, 30-year bonds Wednesday
By Andrea Heisinger
New York, March 20 - Stryker Corp. is in the market Wednesday with an offering of notes (A3/A+/) in two parts, according to a 424B5 filing with the Securities and Exchange Commission.
The offering includes a five-year note and a 30-year bond.
There is a change-of-control put at 101%.
Barclays, BofA Merrill Lynch and Goldman Sachs & Co. are the bookrunners.
Proceeds will be used for working capital and other general corporate purposes.
Stryker, a medical technology company based in Kalamazoo, Mich., was last in the market with a $750 million sale of 2% five-year notes priced at 115 basis points over Treasuries on Sept. 13, 2011.
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