BD to issue €600M 3.855% Euro notes due 2033
Becton, Dickinson and Company, through its Luxembourg subsidiary Becton Dickinson Euro Finance S.à r.l., entered into an underwriting agreement to issue €600,000,000 aggregate principal amount of 3.855% Notes due 2033.
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Form Type
8-K
Rhea-AI Filing Summary
Becton, Dickinson and Company, through its Luxembourg subsidiary Becton Dickinson Euro Finance S.à r.l., entered into an underwriting agreement to issue €600,000,000 aggregate principal amount of 3.855% Notes due 2033. The new Euro Notes will be fully and unconditionally guaranteed on a senior unsecured basis by BD.
BD and Becton Finance expect to use the net proceeds from this offering, together with cash on hand, to repay the outstanding 1.208% Euro Notes due June 4, 2026, including accrued interest, fees and expenses. Completion of the offering is expected on or about May 20, 2026, subject to customary closing conditions.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Euro Notes offering size: €600,000,000 aggregate principal amount
Coupon rate: 3.855%
Maturity of new notes: 2033
+3 more
6 metrics
Euro Notes offering size
€600,000,000 aggregate principal amount
3.855% Notes due 2033
Coupon rate
3.855%
Euro Notes due 2033
Maturity of new notes
2033
Euro Notes issued by Becton Finance
Existing notes coupon
1.208%
Euro Notes due June 4, 2026 to be repaid
Existing notes maturity date
June 4, 2026
1.208% Euro Notes to be repaid
Expected offering completion date
On or about May 20, 2026
Closing of Euro Notes offering
Key Terms
Underwriting Agreement, aggregate principal amount, senior unsecured, net proceeds, +1 more
5 terms
Underwriting Agreement financial
"entered into an underwriting agreement (the “Underwriting Agreement”) with Barclays Bank PLC"
An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.
aggregate principal amount financial
"the offer and sale ... of €600,000,000 aggregate principal amount of its 3.855% Notes"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
senior unsecured financial
"The Euro Notes will be fully and unconditionally guaranteed on a senior unsecured basis by BD."
Senior unsecured is a type of loan or bond that has priority over other unsecured obligations for repayment if a company runs into financial trouble, but it is not backed by specific assets as collateral. Think of it as being near the front of a line to get paid, but without a pledged item to seize if the borrower defaults; that higher repayment priority typically makes it less risky than subordinated debt but more risky than secured debt, which influences the interest rate investors demand.
net proceeds financial
"expect to use the net proceeds of the Offering, together with cash on hand, to repay"
The amount of money a company actually keeps from a sale or fundraising after paying all direct costs and fees, similar to take-home pay after taxes and deductions. Investors care because net proceeds determine how much cash is available for things that affect value—paying debt, funding projects, buying assets, or returning money to shareholders—so it influences future growth potential and financial health.
customary closing conditions financial
"BD expects that the Offering will be completed on or about May 20, 2026, subject to customary closing conditions."
"Customary closing conditions" are standard rules or checks that must be met before a business deal can be finalized, like making sure all paperwork is in order or that certain approvals are obtained. They matter because they help protect both parties, ensuring everything is in place and reducing the risk of surprises or problems after the deal is closed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What debt offering did Becton, Dickinson (BDX) announce in this report?
Becton, Dickinson’s Luxembourg subsidiary plans to issue €600,000,000 of 3.855% Euro Notes due 2033. These notes will be fully and unconditionally guaranteed on a senior unsecured basis by BD, providing investors recourse to the parent company’s credit profile.
How will Becton, Dickinson (BDX) use the proceeds from the new Euro Notes?
BD and Becton Finance expect to use the net proceeds, along with cash on hand, to repay the entire principal of the 1.208% Euro Notes due June 4, 2026. They also plan to cover accrued interest, fees and related expenses tied to that repayment.
What are the key terms of Becton, Dickinson’s (BDX) new Euro Notes due 2033?
The new Euro Notes have an aggregate principal amount of €600,000,000, a 3.855% coupon, and mature in 2033. They are senior unsecured obligations of Becton Finance and are fully and unconditionally guaranteed on a senior unsecured basis by Becton, Dickinson and Company.
When does Becton, Dickinson (BDX) expect the Euro Notes offering to close?
BD expects the Euro Notes offering to be completed on or about May 20, 2026. The closing is subject to customary conditions typically found in underwritten debt offerings, as outlined in the underwriting agreement dated May 11, 2026.
Which existing Becton, Dickinson (BDX) debt is being refinanced with this transaction?
The company intends to repay the 1.208% Euro Notes due June 4, 2026, issued by Becton Finance. The repayment will use net proceeds from the new 3.855% Euro Notes due 2033 plus cash on hand, covering principal, accrued interest, fees and expenses.
Who are the lead underwriters on Becton, Dickinson’s (BDX) new Euro Notes deal?
The underwriting agreement is with Barclays Bank PLC, BNP PARIBAS, Goldman Sachs & Co. LLC, Morgan Stanley & Co. International plc, and other underwriters. Some underwriters or affiliates may hold the 1.208% Euro Notes and thus receive part of the repayment proceeds.
AI-generated analysis. How Rhea-AI works. Not financial advice.
