NATICK, Mass., June 6 /PRNewswire-FirstCall/ -- Boston Scientific Corporation announced today the pricing of a public offering of $1.2 billion aggregate principal amount of its senior notes under the Company's existing shelf registration statement. The public offering consists of $600 million of 6.00 percent notes due June 15, 2011 and $600 million of 6.40 percent notes due June 15, 2016. The Company expects to receive the offering proceeds upon closing on June 9, 2006, subject to standard closing conditions. Boston Scientific plans to use the net offering proceeds for general corporate purposes, including to fund taxes payable relative to Guidant's asset sale to Abbott Laboratories and to repay approximately $350 million in outstanding borrowings under the Company's credit and security facility that is secured by the Company's U.S. trade receivables.
Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such state or jurisdiction. The offering is being made by means of a prospectus and related preliminary prospectus supplement only, copies of which or information concerning this offering may be obtained by contacting the joint bookrunners: Merrill Lynch & Co., from your Merrill Lynch sales representative or from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, FL 05, New York, NY 10080; or Banc of America Securities LLC, Attn: Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001, 1-800-294-1322.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com/.
This press release contains forward-looking statements. Boston Scientific wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, competitive offerings, integration of acquired companies, Boston Scientific's overall business strategy, and other factors described in Boston Scientific's filings with the Securities and Exchange Commission.
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