Boston Scientific Corporation entered into new credit facilities with a group of lenders led by Wells Fargo Bank, National Association as administrative agent, including a $3.0 billion revolving credit agreement maturing Feb. 26, 2031, a $2.0 billion 364-day revolving credit agreement, and a $6.0 billion 364-day delayed draw term loan facility intended to help fund its planned acquisition of Penumbra, Inc. The agreements include interest rates tied to Term SOFR or other benchmark rates plus margins based on the company’s credit rating, along with facility and certain ticking fees, and require compliance with a maximum leverage ratio covenant. Boston Scientific also terminated its prior revolving credit agreement originally dated May 10, 2021.
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