Boston Scientific Issues $1B In Debt Notes
Boston Scientific is offering more than $1 billion in debt notes to help pay earlier debt that was borrowed at a higher interest rate, the Natick-based medical device manufacturer announced.
The company has announced a public offering of $1.05 billion in what are called “senior notes,” which are secured by collateral. The offering consists of $600 million in 2.65 percent notes, due Oct. 1, 2018, and $450 million of 4.125 percent notes, due Oct. 1, 2023, according to a Boston Scientific statement.
The company said it expects to receive the net offering proceeds Aug. 13. It said it intends to use the money to redeem all or part of its 5.45 percent notes that are due June 15, 2014, which has a $600 million principal balance, and 4.5 percent notes due Jan. 15, 2015, of which $850 million remains outstanding.
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