BD prices $677 in EU-based debt offerings

Becton Dickinson (NYSE:BDX) today priced a set of European debt offerings totaling $677 million.

In the first offering, the Franklin Lakes, N.J.-based company issued $346.3 million (EU €300 million) in 1.401% notes due May 24, 2023 in a public offering between it and The Bank of New York Mellon Trust Company.

Becton Dickinson said that it can redeem the Euro Notes in whole or in part any time prior to April 24, 2023 at a price equal to 100% of the principal amount or at any time on or after April 24, 2023 for the price of the notes plus accrued and unpaid interest.

The company also issued $331.1 million (GBP £250 million) in U.K.-based 3.02% notes due May 24, 2025 in a separate underwritten public offering, according to an SEC filing.

BD specified that it can redeem the notes at any time prior to February 24, 2025 at a redemption price equal to the greater of 100% of the principal amount to be redeemed and a “make-whole” amount described in the notes, plus accrued interest, or at any time after February 24, 2025 with that value plus accrued and unpaid interest.

In March, Becton Dickinson said it closed a $460.7 million offer to repurchase outstanding 3% notes due 2026.

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