Company: BSX
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000885725-25-000041
Chunk: 132

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 of consolidated EBITDA, through maturity, of certain charges and expenses. The credit agreement amendment reset the starting date for purposes of calculating such permitted exclusions related to restructuring charges and restructuring-related expenses from December 31, 2022 to March 31, 2024. Permitted exclusions include up to $500 million in cash and non-cash restructuring charges and restructuring-related expenses associated with our current or future restructuring plans. As of June 30, 2025, we had $113 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 does not exceed $1.000 billion plus all accrued legal liabilities as of December 31, 2022. As of June 30, 2025, we had $1.414 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 $197 million outstanding under our commercial paper program as of June 30, 2025 and $191 million outstanding as of December 31, 2024.

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As of(in millions, except maturity and yield)June 30, 2025December 31, 2024Commercial paper outstanding (at par)$197 $191 Maximum borrowing capacity2,750 2,750 Borrowing capacity available2,553 2,559 Weighted average maturity19 days20 daysWeighted average yield4.59 %4.7 %Senior Notes We had senior notes outstanding of $11.319 billion as of June