NATICK, Mass., June 6 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX - News) 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.
