Boston Scientific (NYSE:BSX) said it plans to use the proceeds of a $1.05 billion debt offering to retire some of its other debt coming due over the next few years.

The Natick, Mass.-based medical device company said it will offer $600 million worth of 2.65% senior notes due Oct. 1, 2018, and another $450 million worth of 4.125% notes due Oct. 1, 2023.

Boston Scientific has $1.45 billion in debt due in 2014 and 2015, including $600 million worth of 5.45% notes due June 15, 2014, and another $850 million in 4.5% notes due Jan. 15, 2015.

BSX said it expects the offering to close August 13 and that it plans to use the proceeds, plus a term loan, to redeem “all or a portion” of the debts coming due next year and in early 2015.

BSX shares were trading at $11.38 apiece as of about 11:35 a.m. today, up 0.5%.