8-KMaterial AgreementsOther EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Nov 17, 2005)

Filed November 17, 2005For Securities:BSX

Summary

Boston Scientific Corporation (BSX) filed an 8-K on November 17, 2005, to report on the successful completion of a significant debt offering. The company issued $400 million in 5.50% Notes due 2015 and $350 million in 6.25% Notes due 2035, totaling $750 million in aggregate principal amount. This offering was conducted under the company's existing shelf registration statement, with J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., and UBS Securities LLC acting as underwriters. The primary purpose for issuing these notes is to repay existing commercial paper borrowings and to fund general corporate purposes. This move indicates a strategic financial maneuver by Boston Scientific to strengthen its balance sheet, manage its debt obligations, and ensure liquidity for ongoing operations and potential future investments.

Key Highlights

  • 1Completed a $750 million debt offering consisting of $400 million in 5.50% Notes due 2015 and $350 million in 6.25% Notes due 2035.
  • 2The offering was executed under the company's existing shelf registration statement.
  • 3Key underwriters included J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., and UBS Securities LLC.
  • 4Proceeds will be used to repay commercial paper borrowings.
  • 5Remaining proceeds allocated for other general corporate purposes.
  • 6The debt issuance demonstrates proactive capital management by Boston Scientific.
  • 7The filing includes the Underwriting Agreement and forms of the Global Securities as exhibits.

Frequently Asked Questions

Boston Scientific raised a total of $750 million in aggregate principal amount through the issuance of two tranches of notes: $400 million of 5.50% Notes due 2015 and $350 million of 6.25% Notes due 2035.

The company plans to use the proceeds primarily to repay existing commercial paper borrowings. Any remaining funds will be used for other general corporate purposes.

The debt offering involved Boston Scientific Corporation as the issuer and J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., and UBS Securities LLC as the underwriters.

The offering was completed under Boston Scientific's existing shelf registration statement, indicating that the company had pre-registered the ability to issue securities and was now executing on that plan.