Aspect talks $110 million seven-year convertibles at 2.25%-2.75%, up 25%-30%, to price Thursday

By Kenneth Lim

Boston, June 13 - Aspect Medical Systems Inc. plans to price $110 million of seven-year convertible senior notes on Thursday after the market closes, talked at a coupon of 2.25% to 2.75% and an initial conversion premium of 25% to 30%.

The convertibles will be offered at par.

There is an over-allotment option for a further $15 million.

Goldman Sachs is the bookrunner of the Rule 144A offering.

The convertibles will be non-callable and may not be put.

The notes will have dividend and takeover protection.

Aspect Medical, a Norwood, Mass.-based maker of the BIS anesthesia monitoring system, said it will use the proceeds to buy back about 2 million shares of its common stock from Boston Scientific, which will be left with about half of its current stake. The two companies earlier in the week ended their development alliance on the medical device.

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