Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Revised credit deal gives Boston more breathing space:

This article was originally published in Clinica

Executive Summary

Boston Scientific has renegotiated the terms of a $2bn revolving credit line and $5bn loan agreement, which will provide the Natick, Massachusetts company with "significant financial flexibility" as it pursues its strategy to boost shareholder value. It added that it has paid off $1bn of the loan, leaving it with nearly $1bn cash on hand and full access to $2bn of available revolving credit. Interest rate margins and fee rates for the amended credit facility remain unchanged. Boston's weakening product sales, amid sluggish market conditions, and heavy debt related to its Guidant acquisition have prompted the company to undertake a number of restructuring initiatives to help its finances. These initiatives include divesting non-core assets and cutting expenses and the size of its workforce.

Advertisement

Topics

Advertisement
UsernamePublicRestriction

Register

MT049551

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel