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Boston Scientific enters $4.75B worth of credit, loan agreements

Boston Scientific Corp. said it entered a new $2.75 billion revolving credit agreement as well as a $2 billion term loan agreement to finance the BTG PLC acquisition.

The Marlborough, Mass.-based medical device maker, which also amended a previous $1 billion credit agreement, agreed to buy London-based BTG in November for £3.3 billion.

Bank of America is acting as the syndication agent and Wells Fargo Bank as administrative agent for the $2.75 billion credit agreement, with Barclays Bank PLC acting as administrative agent for the $2 billion loan.

The new $2.75 billion credit facility will mature on Dec. 19, 2023, and the final tranche from the $2 billion loan will mature three years after the closing of the BTG acquisition.

Boston Scientific also terminated two of its previous revolving credit agreements dated Aug. 4, 2017, and Feb. 7, 2017.