Item 8.01 Other Events.
U.S. Dollar Notes Offering
On February 8, 2021, Becton, Dickinson and Company ("BD") entered into an
underwriting agreement (the "U.S. Underwriting Agreement") with Barclays Capital
Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan
Stanley & Co. LLC, as representatives of the underwriters named therein (the
"U.S. Underwriters"), in connection with the offer and sale by BD to the U.S.
Underwriters (the "U.S. Offering") of $1.0 billion aggregate principal amount of
1.957% Notes due 2031 (the "U.S. Notes").
BD expects to use the net proceeds of the U.S. Offering, together with cash on
hand, to repay the entire $1.0 billion aggregate principal amount outstanding of
its 3.125% Notes due 2021 (the "3.125% Dollar Notes"), and to pay accrued
interest, related premiums, fees and expenses in connection therewith. BD
expects that the U.S. Offering will be completed on or about February 11, 2021,
subject to customary closing conditions.
Certain of the U.S. Underwriters or their affiliates may hold a portion of the
3.125% Dollar Notes and accordingly may receive a portion of the net proceeds of
the U.S. Offering.
The foregoing description of the U.S. Underwriting Agreement does not purport to
be a complete description and is qualified in its entirety by reference to the
full text of the U.S. Underwriting Agreement, which is filed as Exhibit 1.1
hereto and incorporated herein by reference.
Euro-Denominated Notes Offering
On February 9, 2021, BD, together with its indirect, wholly-owned subsidiary,
Becton Dickinson Euro Finance S.à r.l., a private limited liability company
(société à responsabilité limitée) incorporated under the laws of the Grand
Duchy of Luxembourg ("Becton Finance"), entered into an underwriting agreement
(the "Euro Underwriting Agreement") with Barclays Bank PLC, Citigroup Global
Markets Limited., J.P. Morgan Securities plc and Morgan Stanley & Co.
International plc and the several other underwriters named therein (the "Euro
Underwriters") in connection with the offer and sale by Becton Finance to the
Euro Underwriters (the "Euro Offering") of €600 million aggregate principal
amount of its 1.213% Notes due 2036 (the "Euro Notes"). The Euro Notes will be
fully and unconditionally guaranteed on a senior unsecured basis by BD.
BD and Becton Finance expect to use the net proceeds of the Euro Offering,
together with cash on hand, to repay the entire €600 million aggregate principal
amount outstanding of the 0.174% Euro Notes due 2021 (the "0.174% Euro Notes")
issued by Becton Finance, and to pay accrued interest, related premiums, fees
and expenses in connection therewith. BD expects that the Euro Offering will be
completed on or about February 12, 2021, subject to customary closing
conditions.
Certain of the Euro Underwriters or their affiliates may hold a portion of the
0.174% Euro Notes and accordingly may receive a portion of the net proceeds of
the Euro Offering.
The foregoing description of the Euro Underwriting Agreement does not purport to
be a complete description and is qualified in its entirety by reference to the
full text of the Euro Underwriting Agreement, which is filed as Exhibit 1.2
hereto and incorporated herein by reference.
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Item 9.01 Financial Statements and Exhibits.
1.1 Underwriting Agreement, dated February 8, 2021, by and among Becton,
Dickinson and Company and Barclays Capital Inc., Citigroup Global Markets
Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as
representatives of the underwriters named therein.
1.2 Underwriting Agreement, dated February 9, 2021, by and among Becton
Dickinson Euro Finance S.à r.l., Becton, Dickinson and Company, Barclays
Bank PLC Citigroup Global Markets Limited, J.P. Morgan Securities plc,
Morgan Stanley & Co. International plc and the several other underwriters
named therein.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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