Attached files
file | filename |
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8-K - FORM 8-K - BOSTON SCIENTIFIC CORP | b78468e8vk.htm |
EX-4.4 - EX-4.4 - BOSTON SCIENTIFIC CORP | b78468exv4w4.htm |
EX-4.2 - EX-4.2 - BOSTON SCIENTIFIC CORP | b78468exv4w2.htm |
EX-4.3 - EX-4.3 - BOSTON SCIENTIFIC CORP | b78468exv4w3.htm |
EX-1.1 - EX-1.1 - BOSTON SCIENTIFIC CORP | b78468exv1w1.htm |
Exhibit 5.1
[Shearman & Sterling LLP Letterhead]
December 14, 2009
Boston Scientific Corporation
One Boston Scientific Place
Natick, Massachusetts 01760
One Boston Scientific Place
Natick, Massachusetts 01760
Boston Scientific Corporation
Ladies and Gentlemen:
We have acted as counsel to Boston Scientific Corporation, a Delaware corporation (the
Company), in connection with (i) the purchase and sale of $850,000,000 aggregate
principal amount of the Companys 4.500% Senior Notes due 2015, $850,000,000 aggregate principal
amount of the Companys 6.000% Senior Notes due 2020 and $300,000,000 aggregate principal amount of
the Companys 7.375% Senior Notes due 2040 (collectively, the Securities), pursuant to
the Underwriting AgreementBasic Provisions dated December 10, 2009, as supplemented by the Terms
Agreement dated December 10, 2009 (as so supplemented, the Underwriting Agreement) among
the Company and Banc of America Securities LLC, Deutsche Bank Securities Inc., and J.P. Morgan
Securities Inc., as representatives of the underwriters named in the Underwriting Agreement and
(ii) the Companys automatic shelf registration statement on Form S-3ASR (such automatic shelf
registration statement, including the documents incorporated by reference therein and the
information deemed to be part thereof at the time of effectiveness pursuant to Rule 430B under the
Securities Act of 1933, as amended (the Securities Act), the Registration
Statement) filed with the Securities and Exchange Commission (the Commission) on
December 10, 2009.
The Securities have been issued in three series pursuant to the indenture dated as of June 1,
2006 between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to
JPMorgan Chase Bank, N.A.), as Trustee (the Trustee), incorporated by reference as
Exhibit No. 4.1 to the Registration Statement (the Indenture).
In that connection, we have reviewed the originals, or copies identified to our satisfaction,
of the following documents:
(a) | The Underwriting Agreement. | ||
(b) | The Indenture. | ||
(c) | The forms of the global certificates representing the Securities. |
The documents described in the foregoing clauses (a) through (c) are collectively referred to
herein as the Opinion Documents.
We have also reviewed the following:
(a) The Registration Statement.
(b) The base prospectus dated December 10, 2009, forming part of the Registration
Statement, with respect to the offering from time to time of the Companys senior debt
securities and subordinated debt securities (the Base Prospectus).
(c) The preliminary prospectus supplement dated December 10, 2009, relating to the
Securities (the Preliminary Prospectus Supplement) (the Base Prospectus, as
supplemented by the Preliminary Prospectus Supplement, in the form filed with the Commission
pursuant to Rule 424(b) under the Securities Act, including the documents incorporated or
deemed incorporated by reference therein, being hereinafter collectively referred to as the
Preliminary Prospectus).
(d) The final prospectus supplement, dated December 10, 2009, relating to the
Securities (the Final Prospectus Supplement) (the Base Prospectus, as supplemented
by the Final Prospectus Supplement, in the form filed with the Commission pursuant to Rule
424(b) under the Securities Act, including the documents incorporated or deemed incorporated
by reference therein, being hereinafter collectively referred to as the
Prospectus).
(e) The pricing term sheet, dated December 10, 2009.
(f) The officers certificate, dated December 14, 2009, setting forth certain terms of
the Securities.
(g) Originals or copies of such other corporate records of the Company, certificates of
public officials and of officers of the Company and agreements and other documents as we
have deemed necessary as a basis for the opinions expressed below.
In our review of the Opinion Documents and other documents, we have assumed:
(a) The genuineness of all signatures.
(b) The authenticity of the originals of the documents submitted to us.
(c) The conformity to authentic originals of any documents submitted to us as
copies.
(d) As to matters of fact, the truthfulness of the representations made in the
Underwriting Agreement and the other Opinion Documents and in certificates of public
officials and officers of the Company.
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(e) That each of the Opinion Documents is the legal, valid and binding obligation of
each party thereto, other than the Company, enforceable against each such party in
accordance with its terms.
(f) That:
(i) The Company is an entity duly organized and validly existing under the
laws of the State of Delaware.
(ii) The execution, delivery and performance by the Company of the Opinion
Documents to which it is a party do not:
(A) contravene its certificate of incorporation, bylaws or other
organizational documents;
(B) violate any law, rule or regulation applicable to it; or
(C) result in any conflict with or breach of any agreement or document
binding on it.
(iii) No authorization, approval or other action by, and no notice to or
filing with, any governmental authority or regulatory body or any other
third party is required for the due execution, delivery or performance by
the Company of any Opinion Document to which it is a party or, if any such
authorization, approval, consent, action, notice or filing is required, it
has been duly obtained, taken, given or made and is in full force and
effect.
We have not independently established the validity of the foregoing assumptions.
Generally Applicable Law means the federal law of the United States of America, and
the law of the State of New York (including the rules or regulations promulgated thereunder or
pursuant thereto), that a New York lawyer exercising customary professional diligence would
reasonably be expected to recognize as being applicable to the Company, the Opinion Documents or
the transactions governed by the Opinion Documents, and for purposes of assumption paragraph (f)
above and our opinions in paragraph 1 below, the General Corporation Law of the State of Delaware.
Without limiting the generality of the foregoing definition of Generally Applicable Law, the term
Generally Applicable Law does not include any law, rule or regulation that is applicable to the
Company, the Opinion Documents or such transactions solely because such law, rule or regulation is
part of a regulatory regime applicable to any party to any of the Opinion Documents or any of its
affiliates due to the specific assets or business of such party or such affiliate.
Based upon the foregoing, and upon such other investigation as we have deemed necessary and
subject to the qualifications set forth below, we are of the opinion that:
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1. The Company (a) has the corporate power to execute, deliver and perform each Opinion
Document to which it is a party and (b) has taken all corporate action necessary to authorize the
execution, delivery and performance of each Opinion Document to which it is a party.
2. The Indenture is the legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms.
3. When authenticated by the Trustee in accordance with the terms of the Indenture and
delivered to and paid for as provided in the Underwriting Agreement, the Securities will be
the legal, valid and binding obligations of the Company, enforceable against the Company in
accordance with their terms and entitled to the benefits of the Indenture.
The opinions set forth above are subject to the following qualifications:
(a) Our opinions in paragraphs 2 and 3 are subject to the effect of any applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors
rights generally (including without limitation all laws relating to fraudulent transfers).
(b) Our opinions in paragraphs 2 and 3 are subject to the effect of general principles
of equity, including without limitation concepts of materiality, reasonableness, good faith
and fair dealing (regardless of whether considered in a proceeding in equity or at law).
(c) With respect to Securities denominated in a currency other than United States
dollars, if any, we express no opinion as to whether a court would award a judgment in a
currency other than United States dollars.
(d) Our opinions are limited to Generally Applicable Law, and we do not express any opinion
herein concerning any other law.
This opinion letter speaks only as of the date hereof. We expressly disclaim any
responsibility to advise you of any development or circumstance of any kind, including any change
of law or fact that may occur after the date of this opinion letter that might affect the opinions
expressed herein.
We understand that this opinion is to be used in connection with the Registration Statement.
We hereby consent to the filing of this opinion as an exhibit to your Current Report on Form 8-K,
dated December 14, 2009 and to the use of our name in the Prospectus under the caption Legal
Matters. In giving this consent, we do not hereby admit that we are in the category of persons
whose consent is required under Section 7 of the Securities Act or the rules and regulations of the
Commission promulgated thereunder.
Very
truly yours,
/s/ Shearman & Sterling LLP
/s/ Shearman & Sterling LLP
DC/IM/TOS/JSG
RE
RE
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