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:8/27/2015)... (PRWEB) , ... August 27, 2015 , ... ... opportunity for venture capital funds, investment firms and animal health companies to hear ... have raised $160 million. Several have also received licensing agreements or distribution contracts. ...
(Date:8/27/2015)... ... ... Capital Edge Consulting , a nationwide consulting firm that specializes in ... as one of the top 5000 companies listed on the 2015 Inc. 5000 ... “It is truly an honor to be recognized as one of America’s fastest growing ...
(Date:8/27/2015)... Aug. 27, 2015  Neogen Corporation (NASDAQ: NEOG ... of United Kingdom -based Lab M ... media and diagnostic systems. Lab M ... leading provider of microbial testing and diagnostic products for ... The company currently sells into more than 70 countries ...
(Date:8/27/2015)... , Aug. 27, 2015 /PRNewswire/ - Portage Biotech ... PBT.U), and Biohaven Pharmaceutical Holding Company Limited (Biohaven), ... Phase I study of BHV-0223, a glutamate modulating ... regarding BHV-0223 and recently obtained clearance from the ... with human testing. Portage holds 54% equity interest ...
Breaking Biology Technology:VetStem Biopharma, Inc. Among Seventeen Companies Selected to Present at the KC Animal Health Investment Forum on September 1st 2015 2VetStem Biopharma, Inc. Among Seventeen Companies Selected to Present at the KC Animal Health Investment Forum on September 1st 2015 3Capital Edge Consulting Makes Inc. 5000 List of America’s Fastest-Growing Private Companies 2Capital Edge Consulting Makes Inc. 5000 List of America’s Fastest-Growing Private Companies 3Neogen acquires U.K.-based Lab M Holdings 2Portage's Biohaven doses first human subject in Phase 1 trial with lead drug candidate BHV-0223 2Portage's Biohaven doses first human subject in Phase 1 trial with lead drug candidate BHV-0223 3Portage's Biohaven doses first human subject in Phase 1 trial with lead drug candidate BHV-0223 4
... LYNBROOK, N.Y., Sept. 11 BioSpecifics Technologies Corp. ... in class collagenase-based products, today announced that BioSpecifics, President, Tom ... Biotech Industry" Conference on Wednesday, September 16, 2009, at 9:00 ... in New York, NY. , , A ...
... September 11 , - ThromboGenics, ... ThromboGenics NV (Euronext Brussels: THR), a ... for eye,disease, vascular disease and cancer, announced today that it ... and "Licensing Deal of,the Year" awards at the Scrip Awards ...
... , , , HORSHAM, Pa., ... it received a Complete Response letter from the U.S. Food and ... DOXIL (doxorubicin HCI liposome injection) in combination ... metastatic breast cancer. , , Centocor ...
Cached Biology Technology:ThromboGenics is Shortlisted for "Biotech Company of the Year" and "Licensing Deal of the Year" at Scrip Awards 2009 2ThromboGenics is Shortlisted for "Biotech Company of the Year" and "Licensing Deal of the Year" at Scrip Awards 2009 3Centocor Ortho Biotech Receives FDA Complete Response Letter Regarding DOXIL(R) for the Treatment of Advanced Breast Cancer 2Centocor Ortho Biotech Receives FDA Complete Response Letter Regarding DOXIL(R) for the Treatment of Advanced Breast Cancer 3Centocor Ortho Biotech Receives FDA Complete Response Letter Regarding DOXIL(R) for the Treatment of Advanced Breast Cancer 4Centocor Ortho Biotech Receives FDA Complete Response Letter Regarding DOXIL(R) for the Treatment of Advanced Breast Cancer 5
(Date:8/5/2015)... 2015 The biosensors market is proving highly ... into newer sectors, and development of devices resulting in ... has seen the entry of multiple participants each year ... (Photo - http://photos.prnewswire.com/prnh/20150805/255570 ) ... the Global Biosensors Market ( http://www.frost.com/nee9 ), finds ...
(Date:7/31/2015)... 2015 BGI llevará a cabo la 10ª Conferencia ... 25 de octubre de 2015, en Shenzhen, ... décimo aniversario este año. Desde su inauguración en 2006, ... anuales más influyentes del mundo en los campos de ... más dinámicas, entusiastas y amenas. ICG-10 se ...
(Date:7/31/2015)... Conn. , Jul. 31, 2015 NXT-ID, Inc. ... biometric authentication company focused on the growing mobile commerce ... that it has filed provisional patent 62/198989 for ... This invention highlights a method to advance crypto-currencies such ... by introducing a common, uniform way to manage all ...
Breaking Biology News(10 mins):Innovative Biosensors Incite Use in Non-Traditional Applications 2Innovative Biosensors Incite Use in Non-Traditional Applications 3Innovative Biosensors Incite Use in Non-Traditional Applications 4La 10ª Conferencia Internacional sobre Genómica (ICG-10) comienza en octubre 2La 10ª Conferencia Internacional sobre Genómica (ICG-10) comienza en octubre 3NXT-ID Patents Electronic Crypto-Currency Management Technology 2NXT-ID Patents Electronic Crypto-Currency Management Technology 3NXT-ID Patents Electronic Crypto-Currency Management Technology 4
... WASHINGTON -- Scientists and engineers from around the world ... gather to discuss recent advances in optics and photonics ... of light -- affecting renewable energy and environmental research. ... Optics and Photonics Congress: Renewable Energy & the Environment, ...
... environmental consciousness, many buildings are being outfitted to "go green." ... Elizabeth Demaray, an associate professor of fine arts, is cultivating ... counteract the lack of native vegetation found in the city. ... New York,s Art in Odd Places Festival from Oct. 1-10 ...
... 25, 2011 Eighteen leading industry speakers will present ... on November 14-15, 2011 in Philadelphia. Nearly 100 IRT ... the major shift taking place in clinical trials - ... Many bio/pharmaceutical companies look to mitigate delays, ...
Cached Biology News:Space debris, more efficient LEDs, and thinner, cheaper solar cells 2Space debris, more efficient LEDs, and thinner, cheaper solar cells 3Space debris, more efficient LEDs, and thinner, cheaper solar cells 4Space debris, more efficient LEDs, and thinner, cheaper solar cells 5Rutgers professor uses lichen to help cities go green 2Rutgers professor uses lichen to help cities go green 3
... One-Step Kit is the ultimate in ... It has been specifically designed to ... Reverse-iT™ One-Step Kit combines the unique ... Thermoprime Plus DNA Polymerase to provide ...
... Protein A and Protein G bind specifically ... Protein A and Protein G conjugates are ... immunoglobulins (antibodies) and immunoglobulin subtypes from serum, ... other biological fluids. These reagents are also ...
... Receptor (AR) Competitor Assay Kits provide a ... screening potential AR ligands using fluorescence polarization ... binding domain protein tagged with His and ... fluorescent androgen ligand (Fluormone AL Green in ...
... results - with a modular approach to ... The ChemStation Plus NDS family provides modular ... and data management, giving you the flexibility ... labs needs now and that can grow ...
Biology Products: