BOSTON SCIENTIFIC CORP (BSX): debt financing — Boston Scientific issues €2B in senior notes to finance Axonics acquisition

BOSTON SCIENTIFIC CORP

AMS Europe, a Boston Scientific subsidiary, issued €750M 3.375% notes due 2029 and €1.25B 3.500% notes due 2032.
The notes are fully and unconditionally guaranteed by Boston Scientific Corporation (BSX).
Net proceeds of €1.98B will finance the Axonics acquisition, repay 3.45% notes due March 2024, and for general purposes.
If the Axonics acquisition fails to close by Jan 8, 2025 (or later), a special mandatory redemption at 101% of principal applies.
The offering closed on February 27, 2024, and net proceeds after underwriting discounts were approximately €1.980 billion.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BOSTON SCIENTIFIC CORP incurred senior notes of €2,000,000,000 aggregate principal amount with the several underwriters named in the Underwriting Agreement at 3.375% Senior Notes due 2029 and 3.500% Senior Notes due 2032 maturing 2029 and 2032.

Instrument: senior notes
Principal: €2,000,000,000 aggregate principal amount
Counterparty: the several underwriters named in the Underwriting Agreement
Rate: 3.375% Senior Notes due 2029 and 3.500% Senior Notes due 2032
Maturity: 2029 and 2032
Event: incurrence

Exact text from the filing

in connection with AMS Europe’s previously announced pricing of €2,000,000,000 aggregate principal amount of its senior notes. Pursuant to the Underwriting Agreement, the Underwriters agreed to purchase €750,000,000 in aggregate principal amount of 3.375% Senior Notes due 2029 and €1,250,000,000 in aggregate principal amount of 3.500% Senior Notes due 2032

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BOSTON SCIENTIFIC CORP entered into Underwriting Agreement with the several underwriters named in the Underwriting Agreement valued at €2,000,000,000 aggregate principal amount of its senior notes (effective 2024-02-22).

Action: entry
Agreement: underwriting
Counterparty: the several underwriters named in the Underwriting Agreement
Value: €2,000,000,000 aggregate principal amount of its senior notes
Effective: 2024-02-22

Exact text from the filing

On February 22, 2024, Boston Scientific Corporation (the “Company”), as guarantor, and American Medical Systems Europe B.V. (“AMS Europe”), its wholly owned finance subsidiary, as issuer, entered into an Underwriting Agreement, (as supplemented by the Terms Agreement, also dated February 22, 2024, the “Underwriting Agreement”), among the Company, AMS Europe and the several underwriters named in the Underwriting Agreement (the “Underwriters”), in connection with AMS Europe’s previously announced pricing of €2,000,000,000 aggregate principal amount of its senior notes.

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Source: SEC EDGAR

accession 0000885725-24-000025

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