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Boston Scientific concludes offering of USD4.3bn senior notes and announces redemption notice for its 2020 notes.

Global Banking News-February 26, 2019-Boston Scientific concludes offering of USD4.3bn senior notes and announces redemption notice for its 2020 notes

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Medical company Boston Scientific Corporation (NYSE:BSX) revealed on Monday the completion of its public offering of USD4.3bn aggregate principal amount of its senior notes.

Under the public offering, the company has issued USD850m of 3.450% notes due 2024, USD850m of 3.750% notes due 2026, USD850m of 4.000% notes due 2029, USD750m of 4.550% notes due 2039 as well as USD1.0bn of 4.700% notes due 2049.

In conjunction, the company has issued redemption notices for the full redemption of each series of 2020 notes.The redemption date in respect of the 6.000% notes due January 2020 is 27 March 2019. The redemption date in respect of the 2.850% notes due May 2020 is 12 March 2019.

Net proceeds from the offering may be used to finance a portion of the proposed acquisition of BTG plc, to redeem its 6.000% notes due January 2020 and its 2.850% notes due May 2020 (collectively, the 2020 notes), repay amounts outstanding under its USD1.0bn term loan facility maturing August 2019, repay other short term debt as well as pay related fees, expenses and premiums.

((Distributed via M2 Communications - http://www.m2.com))

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Publication:Global Banking News (GBN)
Date:Feb 26, 2019
Words:229
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