BDX Updates Financial Obligations, Details Existing Notes

TL;DR

**BDX just updated its debt obligations, showing existing notes due through 2036.**

AI Summary

Becton, Dickinson and Company (BDX) filed an 8-K on February 8, 2024, to report the creation of a direct financial obligation. This filing specifically mentions several existing notes with varying due dates and interest rates, such as the 0.034% Notes due August 13, 2025, and the 1.900% Notes due December 15, 2026. While the filing doesn't detail a *new* specific obligation, it updates the public record regarding its existing debt structure, which is crucial for investors to understand the company's financial leverage and future cash flow commitments.

Why It Matters

This filing provides transparency into Becton, Dickinson and Company's existing debt, which impacts its financial health and ability to invest in growth or return capital to shareholders. Understanding these obligations helps investors assess the company's risk profile.

Risk Assessment

Risk Level: low — This filing is primarily an informational update on existing debt, not a new, significant financial event that would drastically alter the company's risk profile.

Analyst Insight

A smart investor would review Becton, Dickinson and Company's full financial statements to understand the total outstanding principal for these notes and assess the company's overall liquidity and debt servicing capacity in light of these maturity dates.

Key Numbers

• 0.034% — Interest Rate (Rate for Notes due August 13, 2025)
• August 13, 2025 — Maturity Date (Due date for 0.034% Notes)
• 1.900% — Interest Rate (Rate for Notes due December 15, 2026)
• December 15, 2026 — Maturity Date (Due date for 1.900% Notes)
• 3.020% — Interest Rate (Rate for Notes due May 24, 2025)
• May 24, 2025 — Maturity Date (Due date for 3.020% Notes)
• 1.208% — Interest Rate (Rate for Notes due June 4, 2026)
• June 4, 2026 — Maturity Date (Due date for 1.208% Notes)

Key Players & Entities

• BECTON, DICKINSON AND COMPANY (company) — registrant
• New Jersey (company) — state of incorporation
• 001-4802 (dollar_amount) — Commission File Number
• 22-0760120 (dollar_amount) — IRS Employer Identification No.
• 1 Becton Drive Franklin Lakes, New Jersey 07417-1880 (company) — Address of principal executive offices
• 201-847-6800 (dollar_amount) — Registrant’s telephone number
• February 8, 2024 (dollar_amount) — Date of Report

Forward-Looking Statements

• Becton, Dickinson and Company will continue to manage its debt obligations effectively, with no immediate refinancing risk for the notes due in 2025. (BECTON, DICKINSON AND COMPANY) — high confidence, target: 2025-12-31
• The company's debt structure, as outlined, suggests a stable financial position, unlikely to face significant challenges from these specific maturities. (BECTON, DICKINSON AND COMPANY) — medium confidence, target: 2026-12-31

FAQ

Key Financial Figures

• $1.00 B — ich Registered Common stock, par value $1.00 BDX New York Stock Exchange 1.900% No
• $144 million — offering of the Euro Notes 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
• $625,000,000 — ing On February 8, 2024, BD issued (i) $625,000,000 aggregate principal amount of its 4.874
• $550,000,000 — ary 8, 2029 (the "2029 Notes") and (ii) $550,000,000 aggregate principal amount of its 5.110
• $1,000 — repurchase all or any portion (equal to $1,000 or an integral multiple of $1,000 in ex
• $875 million — g of its 3.363% Notes due 2024, and the $875 million aggregate principal amount outstanding

Filing Documents

• ny20020446x10_8k.htm (8-K) — 53KB
• ny20020446x10_ex4-1.htm (EX-4.1) — 67KB
• ny20020446x10_ex4-2.htm (EX-4.2) — 50KB
• ny20020446x10_ex4-3.htm (EX-4.3) — 48KB
• ny20020446x10_ex5-1.htm (EX-5.1) — 10KB
• ny20020446x10_ex5-2.htm (EX-5.2) — 30KB
• ny20020446x10_ex5-3.htm (EX-5.3) — 9KB
• ny20020446x10_ex5-4.htm (EX-5.4) — 24KB
• 0001140361-24-006440.txt ( ) — 560KB
• bdx-20240208.xsd (EX-101.SCH) — 5KB
• bdx-20240208_def.xml (EX-101.DEF) — 19KB
• bdx-20240208_lab.xml (EX-101.LAB) — 30KB
• bdx-20240208_pre.xml (EX-101.PRE) — 21KB
• ny20020446x10_8k_htm.xml (XML) — 10KB

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-balance Sheet Arrangement of a Registrant. Euro-denominated Notes Offering On February 8, 2024, Becton, Dickinson and Company ("BD") issued 750,000,000 aggregate principal amount of its 3.519% Notes due February 8, 2031 (the "Euro Notes") in an underwritten public offering pursuant to the indenture, dated March 1, 1997, between BD and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Indenture"). BD may, at its option, redeem the Euro Notes, in whole or in part, at any time and from time to time prior to November 8, 2030 (three months prior to the maturity date of the Euro Notes), at a redemption price equal to the greater of (1) 100% of the principal amount of the Euro Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments on the Euro Notes being redeemed, discounting such payments to the redemption date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the applicable comparable government bond rate, plus 20 basis points, plus accrued and unpaid interest, if any, to but excluding the date of redemption. If, as a result of any change in, or amendment to, the tax laws of the United States, or the official interpretation thereof, BD becomes or, based upon a written opinion of independent counsel selected by BD, will become obligated to pay additional amounts with respect to the Euro Notes, BD may at any time at its option redeem, in whole, but not in part, the Euro Notes at 100% of the principal amount plus accrued and unpaid interest to the date of redemption. If a Change of Control Triggering Event (as defined in the Euro Notes) occurs with respect to the Euro Notes, unless BD has exercised its right to redeem the Euro Notes as described above, BD will be required to make an offer to each holder of the outstanding Euro Notes to repurchase all or any portion of such holder's Euro Notes at a purchase price of 101% of the principa

Financial Statements and Exhibits

Financial Statements and Exhibits. 4.1 Form of 3.519% Notes due February 8, 2031 of Becton, Dickinson and Company. 4.2 Form of 4.874% Notes due February 8, 2029 of Becton, Dickinson and Company. 4.3 Form of 5.110% Notes due February 8, 2034 of Becton, Dickinson and Company. 5.1 Opinion of Gary DeFazio, Senior Vice President, Corporate Secretary and Associate General Counsel of Becton, Dickinson and Company, relating to the Euro Notes. 5.2 Opinion of Skadden, Arps, Slate, Meagher and Flom LLP, relating to the Euro Notes. 5.3 Opinion of Gary DeFazio, Senior Vice President, Corporate Secretary and Associate General Counsel of Becton, Dickinson and Company, relating to the USD Notes. 5.4 Opinion of Skadden, Arps, Slate, Meagher and Flom LLP, relating to the USD Notes. 23.1 Consent of Gary DeFazio, Senior Vice President, Corporate Secretary and Associate General Counsel of Becton, Dickinson and Company (included as part of Exhibit 5.1 and Exhibit 5.3 ). 23.2 Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included as part of Exhibit 5.2 and Exhibit 5.4 ). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 4

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 8, 2024 5

View Full Filing

View this 8-K filing on SEC EDGAR