Embecta sets April 1 spin-off from BD; issues $500M senior secured notes due 2030

Embecta Corp.

BD to distribute 1 Embecta share for every 5 BD shares held on March 22, 2022; distribution expected April 1, 2022.
Embecta common stock to list on Nasdaq under symbol 'EMBC' after separation.
Embecta issued $500M of 5.000% senior secured notes due 2030, secured by assets post-spin.
Separation intended to be tax-free for BD shareholders (except cash in lieu of fractional shares).
Embecta will be independent pure-play diabetes care company; produces ~7.6B units of injection devices annually.

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