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:12/19/2014)... 2014 Ed Bilsky, Ph.D., vice president ... for Excellence in the Neurosciences (CEN), and professor of ... selected as a member of the prestigious Dana Alliance ... from Maine to receive this honor. , The ... by the Dana Foundation. Its mission is to ...
(Date:12/19/2014)... 19, 2014 In contrast to traditional ... with various colors, Valoya uses proprietary LED technology to ... best possible uniformity which is critical in low proximity ... spectral accuracy throughout its lifetime which is up to ... , "The investment cost was clearly higher when ...
(Date:12/19/2014)... Mass. , Dec. 18, 2014  Decision Resources ... dental biomaterial market will grow moderately through 2023 ... procedures and growing awareness of dental biomaterials all spur ... markets such as China and ... will bring dental procedures within reach for a larger ...
(Date:12/19/2014)... 18, 2014 Relmada Therapeutics, Inc. (OTCQB: RLMD), ... of chronic pain, announced the results of its annual ... was a transformational year in Relmada,s history and it ... company," said Sergio Traversa , chief executive officer ... on key financial, human resource and clinical development objectives ...
Breaking Biology Technology:UNE's Ed Bilsky Named Member of Dana Alliance for Brain Initiatives 2UNE's Ed Bilsky Named Member of Dana Alliance for Brain Initiatives 3Asia Pacific Dental Biomaterial Market Will Grow Strongly Through 2023 2Asia Pacific Dental Biomaterial Market Will Grow Strongly Through 2023 3Relmada Therapeutics Announces Results of Annual Shareholders Meeting 2
... MUMBAI, India, September 9 , ... Domain-Specific Learning,and Consulting Solutions for Health Care , ... (TIS)-has,recently announced the launch of its first business vertical-focused ... formally,launched this initiative with the appointment of Candida Chandorkar ...
... , WILMINGTON, N.C., Sept. 9 Jim ... - Wilmington, one of several new Sanford Rose Associates executive ... as COO of McGill Environmental Systems and CFO of House ... operations for several rapidly growing agribusiness, food processing, and distribution ...
... ... international study designed to find the genetic cause of Chiari-like Malformation and syringomyelia in dogs. ... cerebellum, descends out of the skull and crowds the spinal cord, putting pressure on both ... ...
Cached Biology Technology:Tata Interactive Systems Initiates Vertical-Focused Learning Solutions for Health Care, Pharmaceutical, and Biotechnology 2Tata Interactive Systems Initiates Vertical-Focused Learning Solutions for Health Care, Pharmaceutical, and Biotechnology 3Tata Interactive Systems Initiates Vertical-Focused Learning Solutions for Health Care, Pharmaceutical, and Biotechnology 4Sanford Rose Associates Opens Wilmington, N.C. Office 2DNA Genotek's Oragene●ANIMAL DNA Collection Kit Plays Key Role in Determining the Genetic Cause of Chiari Malformation in Dogs 2DNA Genotek's Oragene●ANIMAL DNA Collection Kit Plays Key Role in Determining the Genetic Cause of Chiari Malformation in Dogs 3
(Date:12/11/2014)... 2014  Data Sciences International (DSI), the global ... new series of digital telemetry implants to meet ... series, part of the PhysioTel™ Digital platform, was ... physiologic data when incorporating functional endpoints into repeat-dose ... toxicology studies has evolved from short ECG strips ...
(Date:12/10/2014)... N.C. , Dec. 9, 2014  Wake Forest Baptist ... education building for its School of Medicine. Funding for ... larger capital campaign that will be publicly launched next ... be located in the former 60 series R.J. Reynolds ... Innovation Quarter. Construction will begin immediately with plans to ...
(Date:12/10/2014)... SUNNYVALE, California , December 9, 2014 /PRNewswire/ ... Integrate with ITN,s BCARD Platform ... secure, cloud-based enterprise meeting scheduling solutions for business-to-business ... International, the world leader in mobile near-field communication ... solutions.      (Logo: http://photos.prnewswire.com/prnh/20140612/691055) , ...
Breaking Biology News(10 mins):New telemetry implants expected to change how large animal toxicology studies are conducted 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 3Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 4Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 2Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 3
... will host its first Innovation Forum ( http://www.innovation-institute.org/dcforum/ ... Church, Va., on 6-8 November. The event is ... technologies and trends, and help high-tech professionals improve ... leaders from industry, academia and government are among ...
... public health issue and economic problem has been ... the University Denis Diderot in Paris, and the ... chlorine-resistant parasites, known as Cryptosporidium, which cause a ... significant mortality in immunodeficient patients, become virtually inactive ...
... report from the Commission for Environmental Cooperation (CEC) reveals ... to the environment15 percent for the United States and ... group of industrial facilities that are the largest generators ... that the leading role of the largest waste-producing facilities ...
Cached Biology News:First IEEE-USA Innovation Forum coming to Washington area in November 2Ultraviolet light helps to secure water supply 2Toxic releases down from North American industry leaders, increasing from other facilities 2
Mouse monoclonal antibody raised against a partial recombinant SCARB2. NCBI Entrez Gene ID = SCARB2...
Alpha-2-antiplasmin precursor (Alpha-2-plasmin inhibitor) (Alpha-2-PI) (Alpha-2-AP). [Source:Uniprot/SWISSPROT;Acc:P08697] Antigen: Recombinant Protein Epitope Signature Tag (PrEST)....
Mouse monoclonal antibody raised against a partial recombinant EOMES. NCBI Entrez Gene ID = EOMES...
... Membrane Proteins ,Contains sufficient components to ... 2-D gel analysis , ,Includes:, , ... , (contains sufficient reagents for extracting ... weight of 10 mg each) Kit ...
Biology Products: