Stryker Corp Files 8-K on Material Definitive Agreement
Ticker: SYK · Form: 8-K · Filed: 2025-02-10T00:00:00.000Z
Sentiment: neutral
Topics: debt, filing, agreement
Related Tickers: SYK
TL;DR
SYK filed an 8-K on 2/10/25 for a material definitive agreement, likely related to their debt notes.
AI Summary
On February 10, 2025, Stryker Corporation (SYK) entered into a material definitive agreement related to its financial obligations. The company filed an 8-K report detailing this agreement and other financial information, including various senior unsecured notes with different maturity dates and interest rates.
Why It Matters
This filing indicates a significant financial transaction or obligation for Stryker, which could impact its debt structure and financial health.
Risk Assessment
Risk Level: low — The filing is a standard 8-K reporting a definitive agreement and financial details, not indicating immediate negative events.
Key Numbers
- 2.125% — Senior Unsecured Notes Interest Rate (Due 2027)
- 3.375% — Senior Unsecured Notes Interest Rate (Due 2028)
- 0.750% — Senior Unsecured Notes Interest Rate (Due 2029)
- 2.625% — Senior Unsecured Notes Interest Rate (Due 2030)
- 1.000% — Senior Unsecured Notes Interest Rate (Due 2031)
- 3.375% — Senior Unsecured Notes Interest Rate (Due 2032)
- 3.625% — Senior Unsecured Notes Interest Rate (Due 2036)
Key Players & Entities
- STRYKER CORP (company) — Filer
- 0000310764 (company) — Central Index Key
- 2693852600 (dollar_amount) — Business Phone Number
- 20250210 (date) — Report Date
FAQ
What is the specific nature of the material definitive agreement filed by Stryker Corp?
The filing indicates an 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', but the specific details of the agreement are not provided in this summary.
What are the different types of senior unsecured notes mentioned in the filing?
The filing lists several series of senior unsecured notes, including those due in 2027, 2028, 2029, 2030, 2031, 2032, and 2036, with varying interest rates.
When was this 8-K report filed?
The 8-K report was filed on February 10, 2025.
What is Stryker Corp's Standard Industrial Classification code?
Stryker Corp's Standard Industrial Classification code is 3841, for SURGICAL & MEDICAL INSTRUMENTS & APPARATUS.
Where is Stryker Corp headquartered?
Stryker Corp is headquartered in Portage, Michigan.
Filing Stats: 1,771 words · 7 min read · ~6 pages · Grade level 10.2 · Accepted 2025-02-10 16:15:23
Key Financial Figures
- $500,000,000 — d a public offering (the "Offering") of $500,000,000 aggregate principal amount of its 4.550
- $700,000,000 — 550% Notes due 2027 (the "2027 Notes"), $700,000,000 aggregate principal amount of its 4.700
- $800,000,000 — 700% Notes due 2028 (the "2028 Notes"), $800,000,000 aggregate principal amount of its 4.850
- $1,000,000,000 — % Notes due 2030 (the "2030 Notes") and $1,000,000,000 aggregate principal amount of its 5.200
- $2.973 b — o receive net proceeds of approximately $2.973 billion, after deducting the underwriting
Filing Documents
- d907608d8k.htm (8-K) — 49KB
- d907608dex11.htm (EX-1.1) — 188KB
- d907608dex42.htm (EX-4.2) — 124KB
- d907608dex43.htm (EX-4.3) — 123KB
- d907608dex44.htm (EX-4.4) — 130KB
- d907608dex45.htm (EX-4.5) — 132KB
- d907608dex51.htm (EX-5.1) — 7KB
- d907608dex52.htm (EX-5.2) — 11KB
- g907608g0208003536864.jpg (GRAPHIC) — 3KB
- g907608g0208075210504.jpg (GRAPHIC) — 3KB
- 0001193125-25-023587.txt ( ) — 1142KB
- syk-20250210.xsd (EX-101.SCH) — 5KB
- syk-20250210_def.xml (EX-101.DEF) — 15KB
- syk-20250210_lab.xml (EX-101.LAB) — 26KB
- syk-20250210_pre.xml (EX-101.PRE) — 17KB
- d907608d8k_htm.xml (XML) — 13KB
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS Exhibit No. Description 1.1 Underwriting Agreement, dated January 30, 2025, between Stryker Corporation and Citigroup Global Markets Inc., Barclays Capital Inc., BNP Paribas Securities Corp. and Wells Fargo Securities, LLC, as representatives of the underwriters. 4.1 Indenture, dated January 15, 2010, between Stryker Corporation and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K, dated January 15, 2010 (Commission File No. 000-09165)). 4.2 Thirty-Second Supplemental Indenture (including the form of the note), dated as of February 10, 2025, between Stryker Corporation and U.S. Bank Trust Company, National Association, as trustee. 4.3 Thirty-Third Supplemental Indenture (including the form of the note), dated as of February 10, 2025, between Stryker Corporation and U.S. Bank Trust Company, National Association, as trustee. 4.4 Thirty-Fourth Supplemental Indenture (including the form of the note), dated as of February 10, 2025, between Stryker Corporation and U.S. Bank Trust Company, National Association, as trustee. 4.5 Thirty-Fifth Supplemental Indenture (including the form of the note), dated as of February 10, 2025, between Stryker Corporation and U.S. Bank Trust Company, National Association, as trustee. 5.1 Opinion of Sullivan & Cromwell LLP regarding the validity of the Notes. 5.2 Opinion of Warner Norcross + Judd LLP regarding the validity of the Notes. 23.1 Consent of Sullivan & Cromwell LLP (included as part of Exhibit 5.1). 23.2 Consent of Warner Norcross + Judd LLP (included as part of Exhibit 5.2). 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES 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 hereunto duly authorized. Stryker Corporation (Registrant) Dated: February 10, 2025 By: /s/ Glenn S. Boehnlein Name: Glenn S. Boehnlein Title: Vice President, Chief Financial Officer