8-KMaterial AgreementsOther EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Nov 18, 2004)

Filed November 18, 2004For Securities:BSX

Summary

Boston Scientific Corporation (BSX) filed an 8-K on November 18, 2004, to report on the successful completion of a public offering of debt securities. The company issued $500 million in aggregate principal amount of notes, consisting of $250 million of 4.250% Notes due 2011 and $250 million of 5.125% Notes due 2017. The offering was conducted under the company's existing shelf registration statement and was managed by underwriters including Merrill Lynch, UBS Securities, and Wachovia Capital Markets. The net proceeds from this offering are earmarked for repaying outstanding commercial paper borrowings and for general corporate purposes. This debt issuance signals a strategic move by Boston Scientific to manage its short-term liabilities and strengthen its overall financial structure. Investors should note the specific interest rates and maturity dates of the new notes, which indicate the cost of capital for these borrowings and the company's future debt obligations.

Key Highlights

  • 1Completed a public offering of $500 million in aggregate principal amount of notes.
  • 2Issued $250 million of 4.250% Notes due 2011.
  • 3Issued $250 million of 5.125% Notes due 2017.
  • 4The offering was conducted under the company's existing shelf registration statement.
  • 5Proceeds will be used to repay commercial paper borrowings.
  • 6Proceeds will also be used for general corporate purposes.
  • 7Key underwriters included Merrill Lynch, UBS Securities, and Wachovia Capital Markets.

Frequently Asked Questions

Boston Scientific raised a total of $500 million through the issuance of two tranches of notes: $250 million of 4.250% Notes due 2011 and $250 million of 5.125% Notes due 2017.

The company plans to use the proceeds primarily to repay outstanding commercial paper borrowings and for other general corporate purposes. This indicates a focus on managing short-term debt and strengthening the company's financial flexibility.

The notes consist of $250 million of 4.250% Notes due 2011 and $250 million of 5.125% Notes due 2017. These represent the stated interest rates and maturity dates for the newly issued debt.

The primary underwriters for this offering included Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC, and Wachovia Capital Markets, LLC.