Becton Dickinson and : Seeks to Raise About $1.7 Billion Through Debt Offerings

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 [e-mail]

(END) Dow Jones Newswires

02-10-21 0653ET