Becton, Dickinson and Company Completes €1 Billion SEC-Registered Offering of Notes

December 9, 2016

Becton, Dickinson and Company, a manufacturer of medical supplies and devices, completed an SEC-registered offering of €1 billion aggregate principal amount of 1.000% notes due December 15, 2022, and 1.900% notes due December 15, 2026. The notes will be listed on the New York Stock Exchange.

Becton Dickinson used the proceeds of the offering, together with other sources of liquidity, to purchase an aggregate principal amount of $1,462,819,000 of several tranches of its outstanding dollar-denominated notes in tender offers that early settled on December 12 and were completed on December 16.

S&C represented the underwriters of the notes offering, who were led by Citigroup Global Markets Limited, Barclays Bank PLC and BNP Paribas, as well as Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC, who acted as lead dealer-managers for the tender offers.

The S&C team included Robert Buckholz, Abigail Yevnin and Edward Bennett. Jeffrey Hochberg, Saul Brander and Lauren Citrome advised on tax matters relating to the offering and tender offers.