Boston Scientific ups coupon on senior notes due 2015, 2035 by 75 bps

By Angela McDaniels

Seattle, April 21 - Boston Scientific Corp. said it increased the interest rate payable on its $400 million senior notes due 2015 to 6¼% from 5½% and the interest rate payable on its $350 million senior notes due 2035 to 7% from 6¼%.

The interest rate increase will accrue from Nov. 17, 2005.

Boston Scientific adjusted the interest rates due to the closing of its acquisition of Guidant Corp., according to a company news release.

The Natick, Mass., medical device company noted that subsequent upgrades to its long-term senior unsecured debt credit ratings may result in a decrease in the notes' interest rates but in no event will the rate on the notes due 2015 fall below 5½% or the rate on the notes due 2035 fall below 6¼%.

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