BDX Files 8-K on Debt Notes; Signals Ongoing Financial Management

TL;DR

**BDX filed an 8-K about its outstanding debt notes, signaling routine financial management.**

AI Summary

Becton, Dickinson and Company (BDX) filed an 8-K on February 6, 2024, reporting an event on February 5, 2024, related to its various outstanding notes. Specifically, the filing mentions notes such as the 1.900% Notes due December 15, 2026, and the 3.020% Notes due May 24, 2025, among others. This matters to investors because it indicates ongoing financial management and potential refinancing activities, which can impact the company's debt structure and future interest expenses, ultimately affecting profitability and shareholder returns.

Why It Matters

This filing indicates Becton, Dickinson and Company is actively managing its debt portfolio, which can influence its cost of capital and financial flexibility. Investors should monitor these activities as they directly impact the company's balance sheet health and future earnings.

Risk Assessment

Risk Level: low — This 8-K appears to be a routine disclosure of existing debt instruments, not indicating any new, significant financial event or immediate risk.

Analyst Insight

Investors should view this as a routine disclosure of existing debt. No immediate action is required, but it serves as a reminder to monitor BDX's overall debt levels and interest rate exposure in future financial reports.

Key Numbers

• 1.900% — interest rate (for notes due December 15, 2026)
• 3.020% — interest rate (for notes due May 24, 2025)
• 1.208% — interest rate (for notes due June 4, 2026)
• 1.213% — interest rate (for notes due February 12, 2036)
• 0.034% — interest rate (for notes due August 13, 2025)

Key Players & Entities

• BECTON, DICKINSON AND COMPANY (company) — the registrant filing the 8-K
• February 5, 2024 (date) — the date of the earliest event reported
• December 15, 2026 (date) — maturity date for 1.900% Notes
• May 24, 2025 (date) — maturity date for 3.020% Notes
• June 4, 2026 (date) — maturity date for 1.208% Notes
• February 12, 2036 (date) — maturity date for 1.213% Notes
• August 13, 2025 (date) — maturity date for 0.034% Notes

Forward-Looking Statements

• Becton, Dickinson and Company will continue to actively manage its debt portfolio, potentially refinancing some of these notes as their maturity dates approach. (BECTON, DICKINSON AND COMPANY) — medium confidence, target: 2026-12-15

FAQ

Key Financial Figures

• $1.00 B — ich Registered Common stock, par value $1.00 BDX New York Stock Exchange 1.900% No
• $625,000,000 — rwriters (the "BD USD Offering") of (a) $625,000,000 aggregate principal amount of 4.874% No
• $550,000,000 — tes due 2029 (the "2029 Notes") and (b) $550,000,000 aggregate principal amount of 5.110% No
• $144 million — s from the BD EUR Offering to repay the $144 million aggregate principal amount outstanding
• $998 million — g of its 3.875% Notes due 2024, and the $998 million aggregate principal amount outstanding
• $875 million — g of its 3.363% Notes due 2024, and the $875 million aggregate principal amount outstanding

Filing Documents

• ny20020446x9_8k.htm (8-K) — 43KB
• ny20020446x9_ex1-1.htm (EX-1.1) — 170KB
• ny20020446x9_ex1-2.htm (EX-1.2) — 263KB
• 0001140361-24-005880.txt ( ) — 752KB
• bdx-20240205.xsd (EX-101.SCH) — 5KB
• bdx-20240205_def.xml (EX-101.DEF) — 19KB
• bdx-20240205_lab.xml (EX-101.LAB) — 30KB
• bdx-20240205_pre.xml (EX-101.PRE) — 21KB
• ny20020446x9_8k_htm.xml (XML) — 10KB

01 Other Events

Item 8.01 Other Events. On February 5, 2024, Becton, Dickinson and Company ("BD") entered into (i) an underwriting agreement (the "BD USD Underwriting Agreement") with Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the underwriters named therein (the "BD USD Underwriters"), in connection with the offer and sale by BD to the BD USD Underwriters (the "BD USD Offering") of (a) $625,000,000 aggregate principal amount of 4.874% Notes due 2029 (the "2029 Notes") and (b) $550,000,000 aggregate principal amount of 5.110% Notes due 2034 (the "2034 Notes," and together with the 2029 Notes, the "BD USD Notes") and (ii) an underwriting agreement (the "BD EUR Underwriting Agreement") with Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Limited, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc, as representatives of the underwriters named therein (the "BD EUR Underwriters," and together with the BD USD Underwriters, the "Underwriters") in connection with the offer and sale by BD to the BD EUR Underwriters (the "BD EUR Offering," and together with the BD USD Offering, the "Offerings") of 750,000,000 aggregate principal amount of 3.519% Notes due 2031 (the "BD EUR Notes," and together with the BD USD Notes, the "Notes"). BD expects that the Offerings will be completed on or about February 8, 2024, subject to customary closing conditions. BD expects to use the net proceeds from the BD EUR Offering to repay the $144 million aggregate principal amount outstanding of its 3.875% Notes due 2024, and the $998 million aggregate principal amount outstanding of its 3.363% Notes due 2024, and to use cash on hand to pay accrued interest, related premiums, fees and expenses in connection therewith. BD expects to use the net proceeds from the BD USD Offering to repay the $998 million aggregate principal amount outstanding of its 3.363% Notes due 202

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 1.1 Underwriting Agreement, dated February 5, 2024, by and among Becton, Dickinson and Company and Barclays Capital Inc., BNP Paribas Securities Corp., 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 5, 2024, by and among Becton, Dickinson and Company and Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Limited, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc, as representatives of the several other underwriters named therein. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BECTON, DICKINSON AND COMPANY (Registrant) By: /s/ Gary DeFazio Gary DeFazio Senior Vice President and Corporate Secretary Date: February 6, 2024

View Full Filing

View this 8-K filing on SEC EDGAR