Navigation Links
Boston Scientific Amends Credit Facility and Prepays $1 Billion on Loan
Date:8/23/2007

NATICK, Mass., Aug. 23 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has successfully amended its $2 billion revolving line of credit and $5 billion term loan agreement, providing the Company additional financial flexibility as it implements initiatives designed to increase shareholder value.

"We were pleased to work with our lenders to amend our credit facility," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "These changes provide significant financial flexibility that will assist us as we execute our plan to divest non-strategic assets, monetize our investment portfolio, and reduce expenses and head count, as well as achieve our broader goal of increasing shareholder value."

Among other items, the amendment extends a step-down in the maximum permitted leverage ratio (total debt divided by EBITDA [Earnings Before Interest, Taxes, Depreciation and Amortization]) as follows:

From: To:

4.5 times to 3.5 times on March 31, 2008 4.5 times to 4.0 times on March

31, 2009, and 4.0 times to 3.5

times on September 30, 2009

The amendment clarifies the definition of EBITDA to exclude up to $300 million of any restructuring charges incurred through June 30, 2009 and up to $500 million of any litigation charges -- less any litigation income recorded -- each year through June 30, 2009. In addition, the amendment changes the application of any term loan pre-payments from pro-rata across maturities to the chronological order of maturities.

The amended credit facility and resulting financial
'/>"/>

SOURCE Boston Scientific Corporation
Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. The birth of biotech: San Francisco, Boston, Geneva or Chicago?
2. Wicab to present BrainPort at Boston conference
3. Boston equity firm becomes majority owner of Cedarburg-based Mortgagebot
4. Boston entrepreneur to enliven Milwaukee angel group
5. UW-Madisons Beebe wins scientific award
6. Researchers say scientific reporting needs more perspective, less hype
7. Wisconsin stands at the center of scientific efforts to avert flu epidemics
8. Growth prompts new location for scientific instrument manufacturer
9. UW stem cell guru outlines scientific and political future
10. Wisconsin biotech sector featured in scientific magazine
11. Scientific Protein Laboratories Acquired by New York firm
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/22/2014)... According to new market research report ... Integration, Deployment & Support), by Service Model (SaaS, ... Others (Hybrid & Community)) - Global Forecast to ... Cloud Professional Services Market into various sub-segments with ... also identifies the drivers and restraints for this ...
(Date:10/22/2014)... HONG KONG , Oct. 22, 2014 ... enterprise, announced today that rare disease expert John ... president, research. Dr. McKew brings more than two decades ... at the National Institutes of Health, Wyeth Research and ... McKew will lead aTyr,s efforts to expand and translate ...
(Date:10/20/2014)... GUELPH, ON , Oct. 20, 2014 /PRNewswire/ - BIOREM Inc. ... totalling $1.7 million which brings Q3 orders to $5.8 million and ... odour control projects in North America and ... "We continue to bid new projects at record levels," said ... values were higher at the end of Q3 than they have ...
(Date:10/20/2014)... Earle Martin , Chief ... that Ellen Teplitzky, an experienced attorney specializing in ... industry, has joined the firm as Director of ... practice. NDA Partners provides legal services, including ... to top law firms and their clients in ...
Breaking Biology Technology:Cloud Professional Services Market by Public, Private, Hybrid & Community Expected to Reach $34.41 Billion by 2019 - New Report by MarketsandMarkets 2Cloud Professional Services Market by Public, Private, Hybrid & Community Expected to Reach $34.41 Billion by 2019 - New Report by MarketsandMarkets 3Cloud Professional Services Market by Public, Private, Hybrid & Community Expected to Reach $34.41 Billion by 2019 - New Report by MarketsandMarkets 4Cloud Professional Services Market by Public, Private, Hybrid & Community Expected to Reach $34.41 Billion by 2019 - New Report by MarketsandMarkets 5aTyr Pharma Appoints John C. McKew, Ph.D., as Vice President, Research 2aTyr Pharma Appoints John C. McKew, Ph.D., as Vice President, Research 3NDA Partners Appoints Ellen Teplitzky, JD as Director of its Legal Services Practice 2
... 14 /PRNewswire-FirstCall/ - BioSyntech, Inc. (TSX: BSY), a ... today announced that it will conclude enrolment next ... cartilage repair device, BST-CarGel(R). To date, the Company ... clinical sites will be permitted to enrol additional ...
... Va., Jan. 14 CEL-SCI CORPORATION , ... reports financial results for the fiscal year ended September 30, 2008.CEL-SCI ... a net loss of $(9,629,657) in fiscal year 2007. The ... $(0.07) compared to a net loss per common share in fiscal ...
... Comprehensive tutorials on the publicly available PROSITE, InterPro, IntAct and UniProt ... , ... Seattle (PRWEB) January 15, 2009 -- ... PROSITE, InterPro and IntAct, in addition to a newly updated tutorial ...
Cached Biology Technology:BioSyntech to conclude enrolment for pivotal BST-CarGel(R) trial in February 2009 2BioSyntech to conclude enrolment for pivotal BST-CarGel(R) trial in February 2009 3BioSyntech to conclude enrolment for pivotal BST-CarGel(R) trial in February 2009 4CEL-SCI Corporation Announces 2008 Financial Results 2CEL-SCI Corporation Announces 2008 Financial Results 3New and Updated Online Tutorials for PROSITE, InterPro, IntAct and UniProt 2New and Updated Online Tutorials for PROSITE, InterPro, IntAct and UniProt 3
(Date:10/14/2014)... N.Y. – Scientists have sequenced the house fly genome ... one might expect from an insect that thrives in ... published Oct. 14 in the journal Genome Biology ... biology and of how flies quickly adapt to resist ... Adult house flies (Musca domestica) carry and transmit more ...
(Date:10/14/2014)... fish oil supplements, rich in omega-3 fatty acids, do not ... which the heart can beat as fast as 150 beats ... the Montreal Heart Institute were published in the Journal ... , For the trial, 337 patients with atrial fibrillation not ... of fish oil a day or to placebo for up ...
(Date:10/14/2014)... by the Chinese Academy of Agricultural Sciences in Beijing, ... brief genomic history of tomato breeding, based on sequencing ... C.M. Rick Tomato Genetics Resource Center at UC Davis ... seed of both cultivated tomato varieties and related wild ... tomato genome sequence completed just two years ago, shows ...
Breaking Biology News(10 mins):House fly genome reveals expanded immune system 2
... MA (July 27, 2011) SomaLogic, Inc. and New ... entered into an exclusive licensing agreement whereby SomaLogic will ... several current and future NEB nucleic acid amplification and ... specific protein binding reagents based on chemically modified "aptamers," ...
... each other plant and harvest, rural Chinese neighbors also ... likely to reenroll their land in a conservation program ... Scientists from the Center for Systems Integration and Sustainability ... study the amount of land farmers in the Wolong ...
... NEW YORK (July 27, 2011) ... increasingly sophisticated illegal trade in wildlife parts conducted by organized crime, coupled ... rhinos, tigers, and elephants on a scale never before seen. , ... paper, published June 7 on the online issue of the journal ...
Cached Biology News:Farmers more likely to be green if they talk to their neighbors, according to MSU research 2Organized crime is wiping out wildlife 2
Whole rabbit blood (any breed, either sex) is collected at the time of slaughter and processed immediately at 4C, bottled, frozen and stored at -70C....
GlutaMAX-I Supplement...
Chemically Defined Lipid Concentrate...
... are membrane-filtered isotonic and enzyme-free aqueous ... cell-conditioning agents in either Ca2+- and ... Ca2+- and Mg2+-free phosphate-buffered saline ... from support substrates and each other ...
Biology Products: