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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday
Medtronic: FY24 Results
Medtronic (MDT: A3 /A) 4Q24 Results
Medtronic has EUR 2.5bn due in 2025 and has not issued since 2023. The company took on significant debt in 2015 but had reduced this to a stable total of $25bn since 2019. With a weighted average maturity of 10.6yrs the company’s policy is to keep rolling the debt over at reasonably long tenors. The rating has been stable at A3/A for 7yrs+.
Solid results:
- Revenue $8.6b slightly ahead of consensus
- Guiding for 4-5% organic revenue growth 2025
- FY24 FCF $5.2bn increased 14% YoY
- Emphasis on the $5.5b returned to shareholders. Clearly debt is not the priority here as it has been stable for years.
Watch for issuance in coming days.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.