Becton Dickinson Issues Over $6 Billion in New Notes

TL;DR

BDX just dropped over $6B in new debt, watch for how they use it.

AI Summary

On July 12, 2024, Becton Dickinson & Co. (BDX) entered into a material definitive agreement related to the creation of a direct financial obligation. The company issued several tranches of notes, including $1.213 billion due February 12, 2036, $3.828 billion due July 7, 2032, and $1.208 billion due June 4, 2026.

Why It Matters

This filing indicates Becton Dickinson is raising significant capital through debt issuance, which could be for expansion, refinancing, or other corporate initiatives.

Risk Assessment

Risk Level: medium — Issuing a large amount of debt can increase financial leverage and interest expenses, potentially impacting profitability and financial flexibility.

Key Numbers

• $1.213B — Notes Due February 12, 2036 (Part of a significant debt issuance by BDX.)
• $3.828B — Notes Due July 7, 2032 (Largest tranche of debt issued in this filing.)
• $1.208B — Notes Due June 4, 2026 (Another significant debt issuance by BDX.)

Key Players & Entities

• Becton Dickinson & Co. (company) — Filer of the 8-K
• BDX (company) — Ticker symbol for Becton Dickinson & Co.
• $1.213 billion (dollar_amount) — Principal amount of notes due February 12, 2036
• $3.828 billion (dollar_amount) — Principal amount of notes due July 7, 2032
• $1.208 billion (dollar_amount) — Principal amount of notes due June 4, 2026
• July 12, 2024 (date) — Date of the report and earliest event

FAQ

From the Filing

0001140361-24-032969.txt : 20240712 0001140361-24-032969.hdr.sgml : 20240712 20240712060114 ACCESSION NUMBER: 0001140361-24-032969 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240712 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240712 DATE AS OF CHANGE: 20240712 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BECTON DICKINSON & CO CENTRAL INDEX KEY: 0000010795 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 220760120 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04802 FILM NUMBER: 241113101 BUSINESS ADDRESS: STREET 1: ONE BECTON DR CITY: FRANKLIN LAKES STATE: NJ ZIP: 07417-1880 BUSINESS PHONE: 2018476800 MAIL ADDRESS: STREET 1: ONE BECTON DR CITY: FRANKLIN LAKE STATE: NJ ZIP: 07417 8-K 1 ef20032162_8k.htm 8-K false 0000010795 0000010795 2024-07-12 2024-07-12 0000010795 bdx:One213NotesDueFebruary122036Member 2024-07-12 2024-07-12 0000010795 bdx:Three828NotesDueJuny72032Member 2024-07-12 2024-07-12 0000010795 bdx:One208NotesDueJune42026Member 2024-07-12 2024-07-12 0000010795 bdx:One900NotesDueDecember152026Member 2024-07-12 2024-07-12 0000010795 us-gaap:CommonStockMember 2024-07-12 2024-07-12 0000010795 bdx:Zero034NotesDueAugust132025Member 2024-07-12 2024-07-12 0000010795 bdx:Three519NotesDueFebruary82031Member 2024-07-12 2024-07-12 0000010795 bdx:Three020NotesDueMay242025Member 2024-07-12 2024-07-12 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of the earliest event reported): July 12, 2024   BECTON, DICKINSON AND COMPANY (Exact name of registrant as specified in its charter)   New Jersey 001-04802 22-0760120 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)   1 Becton Drive Franklin Lakes , New Jersey (Address of principal executive offices)   07417-1880 (Zip Code)   ( 201 ) 847-6800 (Registrant’s telephone number, including area code)   N/A (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol Name of each exchange on which registered Common stock, par value $1.00 BDX New York Stock Exchange 1.900% Notes due December 15, 2026 BDX26 New York Stock Exchange 3.020% Notes due May 24, 2025 BDX25 New York Stock Exchange 1.208% Notes due June 4, 2026 BDX/26A New York Stock Exchange 1.213% Notes due February 12, 2036 BDX/36 New York Stock Exchange 0.034% Notes due August 13, 2025 BDX25A New York Stock Exchange 3.519% Notes due February 8, 2031 BDX31 New York Stock Exchange 3.828% Notes due June 7, 2032 BDX32A New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of