Boston Scientific plans $4.3B offering for British acquisition
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Boston Scientific is headquartered in Marlborough.
Marlborough medtech Boston Scientific is hoping to use a portion of the proceeds from a $4.3-billion offering of senior notes to fund its planned acquisition of U.K. cancer and vascular disease firm BTG.
The medical device giant said it plans to offer $850 million in 3.45-percent notes due 2024, $850 million in 3.75-percent notes due 2026, $850 million in 4-percent notes due 2029, $750 million of 4.55-percent notes due 2039 and $1 billion in 4.7-percent notes due 2049.
Proceeds will also be used to redeem outstanding notes, including 6-percent notes due next January and 2.85-percent notes due May 2020. Amounts outstanding from a $1-billion term loan facility set to mature in August will be repaid, the company said.
The offering is expected to close Monday.
The acquisition of BTG is still expected to close in the first half of 2019 despite U.S. trade regulators seeking additional information.
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