Boston Scientific Completes $1.05 Bln Senior Notes Offering - Quick Facts

(RTTNews) - Boston Scientific Corp. (BSX) said it completed a public offering of $1.05 billion aggregate principal amount of its senior notes under the company's shelf registration statement.

The company stated that the public offering consists of $600 million of 2.650% notes due October 1, 2018 and $450 million of 4.125% notes due October 1, 2023.

The company said it had previously announced that it expects to use the net proceeds from the offering, together with borrowings under its recent $400 million term loan facility, to redeem all or a portion of its 5.450% notes due June 15, 2014, of which $600 million aggregate principal amount was outstanding as of the date hereof (the "June 2014 Notes"), and (ii) 4.500% notes due January 15, 2015, of which $850 million aggregate principal amount was outstanding as of the date hereof (the "January 2015 Notes"), and to pay related fees, expenses and premiums.

The company said that following the completion of the offering, on August 13, 2013 it provided the trustee with redemption notices to redeem all of the June 2014 Notes and the January 2015 Notes on September 12, 2013.

Boston Scientific stated that it expects to record an after-tax one-time charge of about $45 million or $0.03 per share during the third quarter of 2013 associated with the redemption, which the company noted was not included in its previously announced GAAP earnings guidance. This charge will not impact the company's adjusted earnings.