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<br />n <br />.' '__. n EXHIBIT B '9/, <br />GUIDANT " <br /> <br />I <br />. May 31,1996 <br /> <br />.. RFCE/VECl <br />Mr. Kevm Ringwald . ~ <br />Director of Community Development, Arden Hills JUN 03 19% <br />I 1450 West Highway 96 ~ <br />Arden Hills, MN 551/2-5794 CfTf Or A,~UtN HiLLS <br /> <br />I Dear Mr. Ringwald, <br /> <br />I recently spoke with Cheryl Johnson concerning a grant request you received from <br />. Cardiac Pacemakers, Inc, (CPI). Cheryl asked me to provide you with additional <br />information concerning the financing of Guidant Corporation, CPI's parent company. <br /> <br />I Guidant Corporation is financed through a combination of debt and equity. The debt <br />portion of Guidant' s financing consists of approximately $366 million of commercial <br />paper issued in the public debt market and $75 million of debt provided at commercial <br />. paper rates through Wachovia Bank, I have provided our commercial paper offering <br />memorandums and a copy of our commercial paper debt outstanding listing as of May 28, <br />1996 to support the existence of our commercial paper funding. CPI's grant request <br />I specifies $9.1 million of project funding which is provided to CPI through this <br />commercial paper vehicle, I am also providing a copy of our borrowing agreement with <br />.. Wachovia Bank. Back-up liquidity for the commercial paper and Wachovia borrowing is <br />provided by a five-year credit agreement with 17 banks who have committed to lend <br />Guidant up to $600 million upon Guidant's request, I have enclosed a copy of the credit <br />I agreement. <br /> <br />The equity portion of Guidant's financing was obtained through an initial public offering <br />I of stock on December 14, 1994. The proceeds of this offering totaled $192.5 detailed in <br />the consolidated statement of shareholder's equity you see reported in the audited 1995 <br />annual report I have enclosed. <br /> <br />I Please contact me at 317-971-2007 with any questions you may have concerning the <br />availability of financing specified in the CPI grant request. <br /> <br />I Sincerely, <br />I GUIDANT CORPORATION <br />I ~~r;' --r- J'~",-tu- <br /> <br />Kristin T. Sherman <br />I Assistant Treasurer <br /> <br /> <br />.. enclosures <br /> <br /> <br />r ~'"'::'-'-""'-':_'~_''''_::'' .__ _. ___ -""'07'"'' <br />~-'.'::'~::~:::.-~: :.:>----_' "--.-=----3 ",-::~---. <br /> <br />. <br />