Kalamazoo, Michigan - September 13, 2011 - Stryker Corporation (NYSE:SYK) announced today that it has priced an offering to sell $750 million of senior unsecured notes due 2016 (the "2016 Notes"). The 2016 Notes will bear interest at 2.000% per year and, unless previously redeemed, will mature on September 30, 2016.
The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes, including acquisitions, stock repurchases and other business opportunities.
Citigroup, Morgan Stanley and Wells Fargo Securities are acting as active joint book-running managers for the offering. This offering was made pursuant to a prospectus supplement to the Company's prospectus, dated January 12, 2010, filed as part of the Company's effective shelf registration statement. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the notes may be obtained by contacting the joint book-running managers: Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, or by calling (877) 858-5407; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, or by calling (866) 718-1649; and Wells Fargo Securities, LLC, Attention: Capital markets Client Support, 1525 West W.T. Harris Blvd. NC0675, Charlotte, North Carolina 28262, or by calling 800-326-5897, or by emailing cmclientsupport@wachovia.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Forward-Looking Statements
This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause the Company's actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: the Company's ability to consummate the offering of senior unsecured notes; weakening of general economic conditions; changes in financial markets; and other risks and uncertainties contained in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Stryker is one of the world's leading medical technology companies and is dedicated to helping healthcare professionals perform their jobs more efficiently while enhancing patient care. The Company offers a diverse array of innovative medical technologies, including reconstructive, medical and surgical, and neurotechnology and spine products to help people lead more active and more satisfying lives.
Contacts
For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or katherine.owen@stryker.com
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