MARLBOROUGH, Mass.,
May 7, 2015 /PRNewswire/
-- Boston Scientific Corporation (NYSE: BSX) announced the
pricing of a public offering of $1.85
billion aggregate principal amount of its senior notes under
the company's shelf registration statement. The public
offering consists of $600 million of
2.850% notes due May 15, 2020,
$500 million of 3.375% notes due
May 15, 2022, and $750 million of 3.850% notes due May 15, 2025.
The company expects to receive the net offering proceeds upon
closing on May 12, 2015, subject to
customary closing conditions. Boston Scientific intends to
use the net proceeds from the offering, together with borrowings
under its $750 million five-year term
loan facility, to (i) pay the purchase price of the American
Medical Systems urology portfolio (the "AMS Portfolio Acquisition")
and to pay related fees and expenses and (ii) redeem all or a
portion of its (a) 5.500% notes due November
2015, of which $400 million
aggregate principal amount was outstanding as of the date hereof,
and (b) 6.400% notes due June 2016,
of which $600 million aggregate
principal amount was outstanding as of the date hereof, and to pay
related fees, expenses and premiums. Any such redemption would be
made in accordance with the terms of the applicable indenture,
including providing the required notice of redemption. The
AMS Portfolio Acquisition is expected to close in the third quarter
of 2015, subject to customary closing conditions.
Nothing herein shall constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
qualification under the securities laws of any such state or
jurisdiction. The offering is being made by means of a
prospectus and related preliminary prospectus supplement only,
copies of which or information concerning this offering may be
obtained by contacting the joint book-running managers: Barclays
Capital Inc., toll-free at (888) 603-5847; Citigroup Global Markets
Inc., toll-free at (800) 831-9146, Deutsche Bank Securities Inc.,
toll-free at (800) 503-4611 or J.P. Morgan Securities LLC,
toll-free at (866) 803-9204.
About Boston Scientific
Boston Scientific transforms
lives through innovative medical solutions that improve the health
of patients around the world. As a global medical technology
leader for more than 35 years, we advance science for life by
providing a broad range of high performance solutions that address
unmet patient needs and reduce the cost of healthcare.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of
1934. Forward-looking statements may be identified by words
like "anticipate," "expect," "project," "believe," "plan,"
"estimate," "intend" and similar words. These forward-looking
statements are based on our beliefs, assumptions and estimates
using information available to us at the time and are not intended
to be guarantees of future events or performance. These
forward-looking statements include, among other things, statements
regarding our offering and intended use of proceeds, the timing of
closing of the AMS Portfolio Acquisition and our redemption of
certain notes and expected charge associated therewith. If
our underlying assumptions turn out to be incorrect, or if certain
risks or uncertainties materialize, actual results could vary
materially from the expectations and projections expressed or
implied by our forward-looking statements. These risks and
uncertainties, in some cases, have affected and in the future could
affect our ability to implement our business strategy and may cause
actual results to differ materially from those contemplated by the
statements expressed in this press release. As a result,
readers are cautioned not to place undue reliance on any of our
forward-looking statements.
Risks and uncertainties that may cause such differences include,
among other things: future economic, competitive, reimbursement and
regulatory conditions; new product introductions; demographic
trends; the closing and integration of acquisitions;
intellectual property; litigation; financial market conditions; and
future business decisions made by us and our competitors. All of
these factors are difficult or impossible to predict accurately and
many of them are beyond our control. For a further list and
description of these and other important risks and uncertainties
that may affect our future operations, see Part I, Item IA -
Risk Factors in our most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission, which we may
update in Part II, Item 1A - Risk Factors in Quarterly
Reports on Form 10-Q we have filed or will file hereafter. We
disclaim any intention or obligation to publicly update or revise
any forward-looking statement to reflect any change in our
expectations or in events, conditions, or circumstances on which
those expectations may be based, or that may affect the likelihood
that actual results will differ from those contained in the
forward-looking statements. This cautionary statement is
applicable to all forward- looking statements contained in this
press release.
CONTACT:
Kelly Leadem
508-683-5543 (office)
Global Media Relations
Boston Scientific Corporation
media@bsci.com
Susie Lisa, CFA
508-683-5565 (office)
Investor Relations
Boston Scientific Corporation
investor_relations@bsci.com
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SOURCE Boston Scientific Corporation