Company: BSX
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000885725-25-000041
Chunk: 62

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 repaid at maturity our  $500 million 1.900% Senior Notes due June 2025 and accrued and unpaid interest with respect to such notes.In February 2024, AMS Europe completed a registered public offering of €2.000 billion in aggregate principal amount of euro-denominated senior notes comprised of €750 million of 3.375% Senior Notes due 2029 and €1.250 billion of 3.500% Senior Notes due 2032 (collectively, the 2024 Eurobonds). Boston Scientific has fully and unconditionally guaranteed all of AMS Europe's obligations under the 2024 Eurobonds, in addition to all of AMS Europe's obligations under the euro-denominated senior notes that were previously issued by AMS Europe in 2022, and no other subsidiary of Boston Scientific will guarantee these obligations. The 2024 Eurobonds offering resulted in cash proceeds of $2.145 billion, net of investor discounts and issuance costs.We primarily used the net proceeds from the 2024 Eurobonds offering to fund a portion of the purchase price of our acquisition of Axonics and to pay related fees and expenses, and for general corporate purposes. We also used the net proceeds to fund the repayment at maturity of $504 million of our 3.450% Senior Notes due March 2024 and to pay accrued and unpaid interest with respect to such notes.Other Arrangements We have accounts receivable factoring programs in certain European countries and with commercial banks in China and Japan which include promissory notes discounting programs. We account for our factoring programs as sales under FASB ASC Topic 860, Transfers and Servicing. We have no retained interest in the transferred receivables, other than collection and administration, and once sold, the accounts receivable are no longer available to satisfy creditors in the event of bankruptcy. 

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Amounts de-recognized for accounts and notes receivable, which are excluded from Trade accounts receivable, net within our accompanying unaudited consolidated balance sheets, are aggregated by contract denominated currency below (in millions):Factoring ArrangementsAs of June 30, 2025As of December 31, 2024AmountDe-recognizedWeighted AverageInterest RateAmountDe-recognizedWeighted AverageInterest RateEuro denominated$224 4.3 %$176 5.3 %Yen denominated224 1.3 %193 0.9 %Renminbi denominated13 2