Boston Scientific Announces Completion of €3.0 Billion Offering of Senior Notes
Boston Scientific Corporation (NYSE: BSX) announced the completion of a €3.0 billion public offering of senior notes by its subsidiary, American Medical Systems Europe B.V. The offering includes various notes maturing from 2025 to 2034, with interest rates ranging from 0.750% to 1.875%. The net proceeds will fund a tender offer for up to $2.5 billion of senior notes and redeem certain existing notes. The company plans to use any remaining funds for debt repayment and general purposes, aiming to optimize its capital structure.
- Proceeds will fund a tender offer for up to $2.5 billion in senior notes.
- Redemption of existing higher interest debt will improve capital efficiency.
- Use of funds for general corporate purposes may facilitate growth.
- The issuance of new notes may lead to shareholder dilution.
MARLBOROUGH, Mass., March 8, 2022 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) (the "Company") today announced that American Medical Systems Europe B.V., its wholly owned finance subsidiary, has completed a public offering of
The Company intends to use the net proceeds from the offering of the Notes, together with short-term borrowings and cash on hand, to (i) fund the previously announced tender offer for up to
This press release shall not constitute a notice of redemption for the 2022 notes, the 2023 notes or the 2025 notes.
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 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 the 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 forward-looking 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: the impact of the ongoing COVID-19 pandemic on our operations and financial results; future U.S. and global economic, political, competitive, reimbursement and regulatory conditions, including as a result of the ongoing conflict between Russia and Ukraine and related sanctions and export restrictions; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by extreme weather or other climate change-related events; labor shortages and increases in labor costs; new product introductions and the market acceptance of those products; markets for our products; expected pricing environment; expected procedural volumes; the closing and integration of acquisitions; clinical trial results; demographic trends; intellectual property rights; litigation; financial market conditions; the execution and effect of our restructuring program; the execution and effect of our business strategy, including our cost-savings and growth initiatives; our ability to achieve environmental, social and governance goals and commitments; 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: | |||||
Media: | Kate Haranis | Investors: | Lauren Tengler | ||
508-683-6585 (office) | 508-683-4479 (office) | ||||
Media Relations | Investor Relations | ||||
Boston Scientific Corporation | Boston Scientific Corporation | ||||
kate.haranis@bsci.com | BSXInvestorRelations@bsci.com |
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SOURCE Boston Scientific Corporation
FAQ
What was the purpose of Boston Scientific's recent €3.0 billion offering?
What are the interest rates on the notes issued by Boston Scientific?
How will the proceeds from the notes offering impact Boston Scientific?
Is Boston Scientific planning any debt repayments with the new notes?
What is the significance of the tender offer for shareholders of BSX?
