Nachrichten March 17, 2022

Boston Scientific Corporation’s €3 Billion Senior Notes Offering and Waterfall Tender Offer

Shearman & Sterling advised Boston Scientific Corporation on a 3 billion registered offering by American Medical Systems Europe B.V., its wholly owned finance subsidiary, of 0.750% senior notes due 2025, 1.375% senior notes due 2028, 1.625% senior notes due 2031 and 1.875% senior notes due 2034. The notes are fully and unconditionally guaranteed by Boston Scientific Corporation. The notes are listed on Euronext Dublin and eligible for the European Central Bank corporate sector purchase programme. Shearman & Sterling also advised Boston Scientific Corporation on its related cash tender offer for $2,852,561,000 aggregate principal amount of certain of its outstanding senior notes. 

The net proceeds of the notes offering are being used, together with short-term borrowings and cash on hand, to (i) fund the tender offer, (ii) fund the redemption of certain of Boston Scientific Corporation’s notes not purchased in the tender offer, and (iii) pay accrued and unpaid interest, premiums, fees and expenses in connection with the tender offer and the redemption. Boston Scientific Corporation intends to use any remaining proceeds for repayment of other indebtedness and general corporate purposes. 

Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties.

The Shearman & Sterling team below included associate Stephanie Li (New York-Investment Funds).

The Team