MARLBOROUGH, Mass.,
May 14, 2020 /PRNewswire/ -- Boston
Scientific Corporation (NYSE: BSX) announced the pricing of a
public offering of $1.7 billion
aggregate principal amount of its senior notes under the company's
shelf registration statement. The public offering consists of
$500.0 million in aggregate principal
amount of 1.900% notes due 2025 and $1.2
billion in aggregate principal amount of 2.650% notes due
2030.
Boston Scientific expects to receive the net offering proceeds
upon closing on May 18, 2020, subject
to customary closing conditions. The company intends to use the net
proceeds from this offering to (i) refinance $450.0 million of borrowings under its revolving
credit facility and a portion of its pre-payable bank debt,
including $750.0 million under its
$1.0 billion term loan credit
facility maturing in February 2021
and $500.0 million under its
$1.25 billion term loan credit
facility maturing in April 2021 and
(ii) pay related fees, expenses and premiums.
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, J.P. Morgan Securities LLC, toll-free
at (212) 834-4533, or Wells Fargo Securities, LLC, toll-free at
(800) 645-3751.
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 40 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, as amended, and Section 21E, of the Securities Exchange
Act of 1934, as amended. 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 proposed offering and intended use of
proceeds. 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
factors, in some cases, have affected and in the future (together
with other factors) 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.
Factors that may cause such differences include, among other
things: future economic, political, competitive, reimbursement and
regulatory conditions; new product introductions; expected pricing
environment; demographic trends; intellectual property; litigation;
financial market conditions; and future business decisions made by
us and our competitors. New risks and uncertainties may arise
from time to time and are difficult to predict, including those
that have emerged or have increased in significance or likelihood
as a result of the COVID-19 pandemic. 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 1A - 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 statements 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:
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Media:
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Kate
Haranis
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Investors:
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Susie Lisa,
CFA
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508-683-6585
(office)
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508-683-5565
(office)
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Media
Relations
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Investor
Relations
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Boston Scientific
Corporation
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Boston Scientific
Corporation
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kate.haranis@bsci.com
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BSXInvestorRelations@bsci.com
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SOURCE Boston Scientific Corporation