Boston Scientific Appoints New CFO, Issues $1.5B in Notes

Ticker: BSX · Form: 8-K · Filed: 2024-05-10T00:00:00.000Z

Sentiment: neutral

Topics: management-change, debt-issuance, financing

Related Tickers: BSX

TL;DR

BSX names new CFO Todd Carpenter, issues $1.5B in 2034 notes.

AI Summary

Boston Scientific Corporation (BSX) announced on May 8, 2024, the appointment of Todd J. Carpenter as Senior Vice President and Chief Financial Officer, effective May 13, 2024. Carpenter previously served as Senior Vice President, Corporate Financial Planning and Analysis. The company also reported on the issuance of $1.5 billion aggregate principal amount of its 4.250% Senior Notes due 2034.

Why It Matters

The appointment of a new CFO can signal strategic shifts or continuity in financial management, while the debt issuance impacts the company's capital structure and future financial obligations.

Risk Assessment

Risk Level: medium — Changes in key financial leadership and significant debt issuance introduce potential financial and operational risks.

Key Numbers

$1.5B — Senior Notes Issued (Represents new debt financing for the company.)
2034 — Maturity Date of Notes (Indicates the long-term nature of the debt.)

Key Players & Entities

Boston Scientific Corporation (company) — Registrant
Todd J. Carpenter (person) — Appointed Senior Vice President and Chief Financial Officer
$1.5 billion (dollar_amount) — Aggregate principal amount of Senior Notes issued
4.250% Senior Notes due 2034 (financial_instrument) — Debt issuance

FAQ

Who has been appointed as the new Chief Financial Officer of Boston Scientific?

Todd J. Carpenter has been appointed as the new Senior Vice President and Chief Financial Officer, effective May 13, 2024.

What is the effective date of Todd J. Carpenter's appointment?

The appointment of Todd J. Carpenter is effective May 13, 2024.

What was Todd J. Carpenter's previous role at Boston Scientific?

Prior to his appointment as CFO, Todd J. Carpenter served as Senior Vice President, Corporate Financial Planning and Analysis.

What is the principal amount of Senior Notes issued by Boston Scientific?

Boston Scientific issued an aggregate principal amount of $1.5 billion of its Senior Notes.

When are the newly issued Senior Notes due?

The newly issued Senior Notes are due in 2034.

From the Filing

0000885725-24-000050.txt : 20240510 0000885725-24-000050.hdr.sgml : 20240510 20240510162022 ACCESSION NUMBER: 0000885725-24-000050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20240508 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240510 DATE AS OF CHANGE: 20240510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOSTON SCIENTIFIC CORP CENTRAL INDEX KEY: 0000885725 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 042695240 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11083 FILM NUMBER: 24935215 BUSINESS ADDRESS: STREET 1: 300 BOSTON SCIENTIFIC WAY CITY: MARLBOROUGH STATE: MA ZIP: 01752-1234 BUSINESS PHONE: 508-683-4000 MAIL ADDRESS: STREET 1: 300 BOSTON SCIENTIFIC WAY CITY: MARLBOROUGH STATE: MA ZIP: 01752-1234 8-K 1 bsx-20240508.htm 8-K bsx-20240508 0000885725 12/31 false 0000885725 2024-05-08 2024-05-08 0000885725 us-gaap:CommonStockMember 2024-05-08 2024-05-08 0000885725 bsx:SeniorNotedue2027Member 2024-05-08 2024-05-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________________________________ Date of Report (Date of earliest event reported): May 8, 2024 BOSTON SCIENTIFIC CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-11083 04-2695240 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)      300 Boston Scientific Way , Marlborough , Massachusetts                  01752-1234     (Address of principal executive offices)                           (Zip Code) ( 508 ) 683-4000 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, $0.01 par value per share BSX New York Stock Exchange 0.625% Senior Notes due 2027 BSX27 New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company    ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐