Company: BSX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000885725-25-000026
Chunk: 110

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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 we had $274 million of the restructuring charge exclusion remaining. In addition, any cash litigation payments (net of any cash litigation receipts), as defined by the agreement, are excluded from the calculation of consolidated EBITDA, provided that the sum of any excluded net cash litigation payments do not exceed $1.000 billion plus all accrued legal liabilities as of December 31, 2022. As of March 31, 2025, we had $1.429 billion of the litigation exclusion remaining.Any inability to maintain compliance with this covenant could require us to seek to renegotiate the terms of our credit arrangements or seek waivers from compliance with this covenant, both of which could result in additional borrowing costs. Further, there can be no assurance that our lenders would agree to such new terms or grant such waivers on terms acceptable to us. In this case, all 2021 Revolving Credit Facility commitments would terminate, and any amounts borrowed under the facility would become immediately due and payable. Furthermore, any termination of our 2021 Revolving Credit Facility may negatively impact the credit ratings assigned to our commercial paper program, which may impact our ability to refinance any then outstanding commercial paper as it becomes due and payable.Commercial Paper Our commercial paper program is backed by the 2021 Revolving Credit Facility. Outstanding commercial paper directly reduces borrowing capacity under the 2021 Revolving Credit Facility. We had no amounts outstanding under our commercial paper program as of March 31, 2025 and $191 million outstanding as of December 31, 2024.

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As of(in millions, except maturity and yield)March 31, 2025December 31, 2024Commercial paper outstanding (at par)$— $191 Maximum borrowing capacity2,750 2,750 Borrowing capacity available2,750 2,559 Weighted average maturity0 days20 daysWeighted average yield— %4.7 %Senior Notes We had senior notes outstanding of $11.243 billion as of March 31, 2025 and $10.451 billion as of December 31, 2024. Our senior notes were issued in public offerings, are redeemable prior to maturity and are not subject to sinking fund requirements. Our senior notes are unsecured, unsubordinated obligations and rank on parity with each other. These notes are effectively junior to liabilities of our subsidiaries (refer to Other Arrangements below).In February 2025, American Medical Systems Europe B.V. (AMS Europe), an