BECTON DICKINSON & CO (BDX): debt financing — BDX enters into $2.75B revolving credit facility, maturing Sept 2026, with option to increase to $3.25B

BECTON DICKINSON & CO

New credit agreement provides $2.75B senior unsecured revolving credit facility, including $100M letter of credit and $194M swingline loan subfacilities.
Facility matures in September 2026, with two possible one-year extensions subject to lender consent.
Borrowers include BDX and Becton Dickinson Euro Finance S.à r.l.; proceeds for general corporate purposes.
Financial covenant requires leverage ratio not to exceed 4.25:1.00 (or 4.75:1.00 after a material acquisition).
Interest rates based on Term SOFR plus margin tied to credit ratings; facility fee from 0.080% to 0.225%.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BECTON DICKINSON & CO amended revolving credit of $2.75 billion with Citibank, N.A. maturing September, 2026.

Instrument: revolving credit
Principal: $2.75 billion
Counterparty: Citibank, N.A.
Maturity: September, 2026
Event: amendment

Exact text from the filing

The Credit Agreement is a senior unsecured revolving credit facility that provides the Company with $2.75 billion of financing

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BECTON DICKINSON & CO amended Credit Agreement with Citibank, N.A. and the lenders named therein valued at $2.75 billion (effective 2023-01-25).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A. and the lenders named therein
Value: $2.75 billion
Effective: 2023-01-25

Exact text from the filing

On January 25, 2023, Becton, Dickinson and Company (the “Company”) and Becton Dickinson Euro Finance S.à r.l., a private limited liability company ( société à responsabilite limitée ) organized and existing under the laws of the Grand Duchy of Luxembourg (“BD Euro Finance”) entered into that certain second amended and restated credit agreement (the “Credit Agreement”) with Citibank, N.A. (“Citibank”) as administrative agent, and the lenders named in the Credit Agreement.

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Source: SEC EDGAR

accession 0001140361-23-002734

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