Davis Polk & Wardwell LLP advised Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Banc of America Securities LLC as joint book-running managers on a $3 billion registered notes offering by Medtronic, Inc. The notes were issued in three tranches: $1.25 billion aggregate principal amount of 3% senior notes due 2015, $1.25 billion aggregate principal amount of 4.45% senior notes due 2020 and $500 million aggregate principal amount of 5.55% senior notes due 2040.

Headquartered in Minneapolis, Minnesota, Medtronic is a global leader in medical technology, alleviating pain, restoring health and extending life for millions of people around the world. Medtronic develops, manufactures and markets medical devices in more than 120 countries worldwide.

The Davis Polk corporate team included partner Richard A. Drucker and associates Kevin Williams and Erik Niit (not yet admitted). Partner Michael Mollerus and associate Joshua Ruland provided tax advice. Devin Chadderton was the legal assistant for the transaction. All members of the Davis Polk team are based in the New York office.