Becton Dickinson Seeks to Raise About $1.7 Billion Through Debt Offerings
February 10 2021 - 7:08AM
Dow Jones News
By Dave Sebastian
Becton, Dickinson & Co. said it seeks to raise about $1.7
billion through dollar and euro debt offerings to repay its
outstanding notes.
The New Jersey-based medical-technology company Wednesday said
it has entered into an agreement with U.S. underwriters for the
offer and sale of $1 billion in 1.957% notes due 2031. It said it
expects to use net proceeds of the U.S. offering, with cash on
hand, to repay the $1 billion principal amount outstanding in its
3.125% notes due 2021.
The company expects to complete the U.S. offering by Thursday,
it said.
Together with a subsidiary, the company also entered into an
agreement with underwriters for the offer and sale of 600 million
euros ($727.6 million) in 1.213% notes due 2036, guaranteed on a
senior unsecured basis. The company said it expects to use net
proceeds, together with cash on hand, to repay its EUR600 million
principal amount outstanding in its 0.174% euro notes due 2021.
It expects to complete the euro offering by Friday, it said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
February 10, 2021 06:53 ET (11:53 GMT)
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