3M Files 8-K on Debt Notes and Corporate Details

TL;DR

**3M just filed an 8-K, updating on their corporate info and outstanding debt notes, including $500M due 2031 and $750M due 2030.**

AI Summary

3M Company filed an 8-K on February 27, 2024, to report an "Other Event" and "Financial Statements and Exhibits." The filing details the company's current status, including its incorporation in Delaware, its business address at 3M Center, St. Paul, Minnesota, and its IRS Employer Identification No. 41-0417775. The document also references various notes, including $500 million notes due in 2031, $750 million notes due in 2030, and $500 million notes due in 2026.

Why It Matters

This filing provides an update on 3M's corporate structure and outstanding debt, which can influence investor perception of the company's financial health and future obligations.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of corporate information and existing debt, not indicating new risks or significant changes.

Key Numbers

• $500M — Notes Due 2031 (Part of 3M's outstanding debt)
• $750M — Notes Due 2030 (Part of 3M's outstanding debt)
• $500M — Notes Due 2026 (Part of 3M's outstanding debt)
• 2024-02-27 — Date of Report (Earliest event reported)
• 41-0417775 — IRS Employer Identification No. (3M Company's identification number)

Key Players & Entities

• 3M Company (company) — Registrant
• Delaware (company) — State of incorporation
• St. Paul, Minnesota (company) — Principal Executive Offices location
• $500 million (dollar_amount) — Notes due 2031
• $750 million (dollar_amount) — Notes due 2030
• $500 million (dollar_amount) — Notes due 2026

FAQ

Key Financial Figures

• $1,000,000,000 — y of 3M Company ("3M"), issued and sold $1,000,000,000 aggregate principal amount of 5.450% se
• $1,500,000,000 — nior notes due 2027 (the "2027 notes"), $1,500,000,000 aggregate principal amount of 5.400% se
• $1,650,000,000 — nior notes due 2031 (the "2031 notes"), $1,650,000,000 aggregate principal amount of 5.600% se
• $1,250,000,000 — nior notes due 2034 (the "2034 notes"), $1,250,000,000 aggregate principal amount of 5.900% se
• $500,000,000 — r notes due 2054 (the "2054 notes") and $500,000,000 aggregate principal amount of 6.000% se
• $600 million — to Solventum, such that Solventum holds $600 million of cash at the consummation of the Spin

Filing Documents

• ef20022576_8k.htm (8-K) — 43KB
• ef20022576_ex4-1.htm (EX-4.1) — 479KB
• ef20022576_ex4-2.htm (EX-4.2) — 549KB
• ef20022576_ex4-3.htm (EX-4.3) — 148KB
• ef20022576_ex4-4.htm (EX-4.4) — 53KB
• 0001140361-24-009810.txt ( ) — 1703KB
• mmm-20240227.xsd (EX-101.SCH) — 5KB
• mmm-20240227_def.xml (EX-101.DEF) — 18KB
• mmm-20240227_lab.xml (EX-101.LAB) — 27KB
• mmm-20240227_pre.xml (EX-101.PRE) — 20KB
• ef20022576_8k_htm.xml (XML) — 8KB

01

Item 8.01. Other Events On February 27, 2024, Solventum Corporation ("Solventum"), a wholly owned subsidiary of 3M Company ("3M"), issued and sold $1,000,000,000 aggregate principal amount of 5.450% senior notes due 2027 (the "2027 notes"), $1,500,000,000 aggregate principal amount of 5.400% senior notes due 2029 (the "2029 notes"), $1,000,000,000 aggregate principal amount of 5.450% senior notes due 2031 (the "2031 notes"), $1,650,000,000 aggregate principal amount of 5.600% senior notes due 2034 (the "2034 notes"), $1,250,000,000 aggregate principal amount of 5.900% senior notes due 2054 (the "2054 notes") and $500,000,000 aggregate principal amount of 6.000% senior notes due 2064 (the "2064 notes" and, together with the 2027 notes, the 2029, the 2031 notes, the 2034 notes and the 2054 notes, the "Notes"). The Notes were issued pursuant to an indenture, dated as of February 27, 2024 (the "Base Indenture"), as supplemented by a first supplemental indenture, dated as of February 27, 2024 (the "First Supplemental Indenture" and together with the Base Indenture, the "indenture"), by and between Solventum and U.S. Bank Trust Company, National Association, as trustee (the "trustee"). The Notes were offered as part of the financing for the proposed distribution by 3M of at least 80.1% of Solventum's issued and outstanding shares of common stock to 3M's stockholders ("Spin-Off"). In connection with the consummation of the Spin-Off, Solventum intends to make one or more direct and/or indirect cash payments to 3M as partial consideration for 3M's transfer of its health care business to Solventum, such that Solventum holds $600 million of cash at the consummation of the Spin-off. Solventum anticipates that all of the net proceeds from the offering of the notes will accordingly be paid to 3M, other than any amounts retained in order to achieve the $600 million retained cash target . The Notes are senior unsubordinated obligations of Solventum and are initially guarante

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description of Exhibits 4.1 Indenture, dated as of February 27, 2024, between Solventum Corporation and U.S. Bank Trust Company, National Association 4.2 First Supplemental Indenture, dated as of February 27, 2024, between Solventum Corporation and U.S. Bank Trust Company, National Association 4.3 Registration Rights Agreement, dated as of February 27, 2024, by and among Solventum Corporation, 3M Company and Goldman Sachs & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC 4.4 Parent Guarantee Agreement, dated as of February 27, 2024, between 3M Company and U.S. Bank Trust Company, National Association 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. 3M COMPANY By: /s/ Michael M. Dai Michael M. Dai Vice President, Associate General Counsel & Secretary Dated: February 27, 2024

View Full Filing

View this 8-K filing on SEC EDGAR