What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report a material definitive agreement, specifically an amendment to Boston Scientific's Credit and Security Agreement. This amendment extends the term of the agreement by 364 days and reduces certain associated fees.

How does the extension of the credit agreement benefit Boston Scientific?

The extension of the credit agreement by 364 days provides Boston Scientific with continued access to funding and financial flexibility for an extended period, supporting its ongoing operations and strategic initiatives.

Are there any significant changes to the terms of the credit agreement, other than the extension?

Yes, besides the 364-day extension of the term, the amendment also includes a reduction in certain fees related to the credit agreement. The specific details of these fee reductions would be found in the full amendment document filed as an exhibit.

Who are the main parties involved in this Credit and Security Agreement?

The parties involved include Boston Scientific Corporation, Boston Scientific Funding Corporation, Blue Ridge Asset Funding Corporation, and Victory Receivables Corporation on the borrower/issuer side, and The Bank of Tokyo-Mitsubishi Ltd., New York Branch, and Wachovia Bank, National Association, as lenders.

BSX 8-K: Material Agreements

Summary

Boston Scientific Corporation (BSX) filed an 8-K report on August 15, 2005, detailing an amendment to its Credit and Security Agreement. The primary event reported is the extension of the credit facility by an additional 364 days, effective August 12, 2005. This extension provides continued financial flexibility and operational support for the company. Additionally, the amendment includes a reduction in certain fees associated with the credit agreement.

Key Highlights

1Extension of Credit and Security Agreement by 364 days, effective August 12, 2005.
2Original Credit and Security Agreement was dated August 16, 2002, and has been amended previously.
3Involves Boston Scientific Corporation, Boston Scientific Funding Corporation, Blue Ridge Asset Funding Corporation, and Victory Receivables Corporation as parties.
4Key financial institutions involved include The Bank of Tokyo-Mitsubishi Ltd., New York Branch, and Wachovia Bank, National Association.
5Reduction in certain fees associated with the credit agreement.
6The amendment is filed as Exhibit 10.1 to the 8-K report.

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Aug 15, 2005)

Summary

Key Highlights

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