Medtronic 2016 Annual Report Download - page 97

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Table of Contents
Medtronic plc
Notes to Consolidated Financial Statements (Continued)
94
Long-term debt consisted of the following:
April 29, 2016 April 24, 2015
(in millions, except interest rates) Maturity by
Fiscal Year Payable
Effective
Interest
Rate Payable
Effective
Interest
Rate
Floating rate three-year 2014 senior notes 2017 $ — —% $ 250 0.32%
0.875 percent three-year 2014 senior notes 2017 — — 250 0.91
6.000 percent ten-year 2008 CIFSA senior notes 2018 1,150 1.41 1,150 1.41
1.375 percent five-year 2013 senior notes 2018 1,000 1.41 1,000 1.41
1.500 percent three-year 2015 senior notes 2018 1,000 1.59 1,000 1.59
5.600 percent ten-year 2009 senior notes 2019 400 5.61 400 5.61
4.450 percent ten-year 2010 senior notes 2020 766 4.47 1,250 4.47
2.500 percent five-year 2015 senior notes 2020 2,500 2.52 2,500 2.52
Floating rate five-year 2015 senior notes 2020 500 1.04 500 1.04
4.200 percent ten-year 2010 CIFSA senior notes 2021 600 2.22 600 2.22
4.125 percent ten-year 2011 senior notes 2021 500 4.19 500 4.19
3.125 percent ten-year 2012 senior notes 2022 675 3.16 675 3.16
3.200 percent ten-year 2012 CIFSA senior notes 2023 650 2.66 650 2.66
3.150 percent seven-year 2015 senior notes 2022 2,500 3.18 2,500 3.18
2.750 percent ten-year 2013 senior notes 2023 530 2.78 1,250 2.78
2.950 percent ten-year 2013 CIFSA senior notes 2024 310 2.67 750 2.67
3.625 percent ten-year 2014 senior notes 2024 850 3.65 850 3.65
3.500 percent ten-year 2015 senior notes 2025 4,000 3.61 4,000 3.61
4.375 percent twenty-year 2015 senior notes 2035 2,382 4.44 2,500 4.44
6.550 percent thirty-year 2007 CIFSA senior notes 2038 374 3.75 850 3.75
6.500 percent thirty-year 2009 senior notes 2039 300 6.52 300 6.52
5.550 percent thirty-year 2010 senior notes 2040 500 5.56 500 5.56
4.500 percent thirty-year 2012 senior notes 2042 400 4.51 400 4.51
4.000 percent thirty-year 2013 senior notes 2043 325 4.12 750 4.12
4.625 percent thirty-year 2014 senior notes 2044 650 4.67 650 4.67
4.625 percent thirty-year 2015 senior notes 2045 4,000 4.64 4,000 4.64
Three-year term loan 2018 3,000 1.12 3,000 1.12
Interest rate swaps 2021-2022 89 — 79 —
Deferred gains from interest rate swap terminations, net — — — 3 —
Capital lease obligations 2018-2026 26 4.66 129 3.52
Bank borrowings 2018-2021 56 6.46 17 —
Debt premium (discount) 2018-2045 214 — 499 —
Total Long-Term Debt $ 30,247 $ 33,752
Senior Notes The Company has outstanding unsecured senior obligations including those indicated as senior notes in the long-
term debt table above (collectively, the Senior Notes). The Senior Notes rank equally with all other unsecured and unsubordinated
indebtedness of the Company. The indentures under which the Senior Notes were issued contain customary covenants, all of which
the Company remains in compliance with as of April 29, 2016. The Company used the net proceeds from the sale of the Senior
Notes primarily for working capital and general corporate uses, which includes the repayment of other indebtedness of the Company,
and to fund the acquisition of Covidien in fiscal year 2015.