Boston Scientific closes $4B debt offering for BTG buyout

Boston Scientific (NYSE:BSX) said yesterday that it closed a $4.3 billion debt round it plans use to defray the cost of buying BTG (LON:BTG)

The Marlborough, Mass.-based medical device company said the flotation comprised $850 million worth of 3.45% notes due 2024, $850 million in 3.75% notes due 2026, $850 million of 4.0% notes due 2029, $750 million of 4.55% notes due 2039 and $1.0 billion of 4.70% notes due 2049.

Apart from covering some of the $4.24 billion BTG buyout, which is slated to close mid-year, Boston Scientific said it also plans to use the proceeds to redeem a collective $1.18 billion in notes due 2020 and pay down some of a $1 billion term loan and other short-debt.

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