The $993.9 million (€900 million) offering is the aggregate principal amount of Boston Scientific’s 0.625% notes due 2027 under the company’s shelf registration statement, according to a news release.
Boston Scientific said it expects to receive the net proceeds from the offering after close on Nov. 12. The company plans to use the proceeds to fund its previously announced tender offer for up to $1 billion in aggregate principal amount of a certain series if its senior notes.
The company also said the proceeds from the offering will be used to pay accrued and unpaid interest, premiums, fees and expenses in connection with the tender offer. Any remaining proceeds are to be set aside for repayment of other debts and general corporate purposes, Boston Scientific said.
The joint book-running managers on the offering are Barclays Bank PLC, Goldman Sachs & Co. LLC and Merrill Lynch International.
Shares of BSX were up 0.01% at $40.72 per share in mid-afternoon trading today.