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BSX > SEC Filings for BSX > Form 8-K on 6-Jul-2012All Recent SEC Filings

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Form 8-K for BOSTON SCIENTIFIC CORP


6-Jul-2012

Entry into a Material Definitive Agreement, Creation of a Direct Financial


ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Effective June 29, 2012, Boston Scientific Corporation (the "Company") entered into an agreement with Boston Scientific Funding LLC; Old Line Funding, LLC; Royal Bank of Canada; Liberty Street Funding LLC; and The Bank of Nova Scotia (the "Amendment"), which amended the Amended and Restated Credit and Security Agreement, dated as of November 7, 2007, by and among Boston Scientific Funding LLC; the Company; Old Line Funding, LLC; Victory Receivables Corporation; The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch; Royal Bank of Canada; Liberty Street Funding LLC; and The Bank of Nova Scotia (as amended, the "Credit Agreement") to (i) extend the term of the Credit Agreement through June 28, 2013, (ii) remove Victory Receivables Corporation and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as parties to the Credit Agreement and any other Transaction Document (as defined in the Credit Agreement), and
(iii) make certain technical amendments to the Credit Agreement.

The Amendment also amended the Amended and Restated Receivables Sale Agreement, dated as of November 7, 2007, by and between the Company and each of its direct or indirect wholly-owned subsidiaries that become a seller thereunder and Boston Scientific Funding LLC, to make certain technical amendments thereto. In connection and concurrently with the Amendment, the Amended Fee Letter described in the Credit Agreement was amended and restated to modify certain fees thereunder.

Certain of the lenders party to the Credit Agreement and the Amendment are lenders under the Company's credit facility entered into on April 18, 2012 and previously disclosed by the Company on a Current Report on Form 8-K, and perform certain commercial banking, investment banking and advisory services for the Company from time to time.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text thereof, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.



ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

Exhibit No. Description

10.1         Amendment #6 to Amended and Restated Credit and Security Agreement,
             Amendment #2 to Amended and Restated Receivables Sale Agreement and
             Restatement of Amended Fee Letter, dated as of June 29, 2012, by and
             among Boston Scientific Funding LLC; Boston Scientific Corporation;
             Old Line Funding, LLC; Royal Bank of Canada; Liberty Street Funding
             LLC; and The Bank of Nova Scotia


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