Boston Scientific prices $2b in senior notes
Boston Scientific Corp., the Natick-based medical device maker, said today that it priced a public offering of $2 billion in senior notes and will record a charge in the fourth quarter.
The offering consists of $850 million of 4.5 percent notes due Jan. 2015; $850 million of 6 percent notes due Jan. 2020; and $300 million of 7.37 percent notes due Jan. 2040. The company expects that the offering will close on Monday.
Proceeds will be used for general corporate purposes, including prepaying a portion of its bank term loan due in April 2011.
The company expects to record a charge of $19 million, or a penny per share, in the fourth quarter associated with the prepayment.