Becton, Dickinson and Company Announces Tender Offers for Outstanding Debt Securities

Core Viewpoint - Becton, Dickinson and Company (BD) has initiated tender offers to purchase outstanding debt securities for a total aggregate purchase price of up to $1,600,000,000, aimed at optimizing its capital structure and managing debt obligations [1][2]. Group 1: Tender Offer Details - The tender offers include various series of securities, with specific principal amounts outstanding and acceptance priority levels outlined [1]. - The securities eligible for purchase include 6.700% Senior Notes due 2026, 7.000% Senior Debentures due 2027, and others, with the total consideration for each series determined by a fixed spread plus the yield based on U.S. Treasury Reference Securities [2]. - The offers will expire on March 11, 2026, with an early tender date of February 24, 2026, where holders can receive an early tender payment in addition to accrued interest [1][2]. Group 2: Financial Implications - The total consideration for each series of securities validly tendered will be calculated based on the applicable fixed spread and the bid-side price of U.S. Treasury Reference Securities as of February 25, 2026 [2]. - Holders who tender securities after the early tender date will receive a lower late tender offer consideration [2]. - Payment for validly tendered securities is expected to occur shortly after the expiration date, with an anticipated settlement date of March 13, 2026 [2]. Group 3: Company Overview - BD is recognized as one of the largest pure-play medical technology companies globally, focusing on advancing healthcare through innovative technologies and solutions [2]. - The company operates with over 60,000 employees and delivers billions of products annually, aiming to enhance clinical efficiency and improve patient care [2].