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Becton, Dickinson intends to sell fixed-rate senior notes
Chicago, Feb. 8 – Becton, Dickinson and Co. plans to sell a tranche of fixed-rate senior notes, according to a 424B2 filing with the Securities and Exchange Commission.
Proceeds will be used to repay in entirety the company’s $1 billion principal amount outstanding of 3 1/8% notes due 2021.
The company stated that it may also pursue other capital markets transactions, including possible offerings of euro-denominated senior notes to repay other debt outstanding.
The notes have a make-whole call and a par call.
Any change-of-control triggering event will make the notes putable at 101.
Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are underwriters for the offering.
Moody’s upgraded the company to Baa3 from Ba1 in late January.
Becton, Dickinson is a Franklin Lakes, N.J., medical technology and supply company.
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