Item 1.01. Entry into a Material Definitive Agreement.
On
The Term Loan Agreement provides BD with a
The Term Loan Agreement contains customary representations and warranties and
affirmative and negative covenants, including financial covenants that require
BD to maintain: (A) an interest expense coverage ratio of not less than 4-to-1
as of the last day of any fiscal quarter and (B) a leverage ratio as of the last
day of any fiscal quarter of not greater than (i) 5.25-to-1 from the
effectiveness of the Term Loan Agreement until and including
Certain of the lenders under the Term Loan Agreement and their related entities have provided, and may in the future provide, commercial and investment banking or other financial services to BD and its businesses for which they have received, and may in the future receive, customary compensation and expense reimbursement.
The foregoing description of the Term Loan Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the Term Loan Agreement, which is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth above under Item 1.01 of this Current Report is hereby incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits No. Description 10.1 364-Day Term Loan Agreement, dated as ofMarch 20, 2020 , amongBecton, Dickinson and Company , the banks named therein andWells Fargo Bank, National Association , as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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