Becton Dickinson to repay term loan, revolving facilities via new notes

By Tali Rackner

Minneapolis, Feb. 27 – Becton, Dickinson & Co. plans to repay borrowings under its term loan and revolving credit facilities using the proceeds from a new offering of floating-rate notes, according to a 424B2 filing with the Securities and Exchange Commission.

The term loan facility matures in December 2020 and bears interest at Libor plus 112.5 basis points to 200 bps. Currently, interest is Libor plus 150 bps.

The revolver matures in December 2022 and bear interest at Libor plus 100 bps to 170 bps. Currently, interest is equal to Libor plus 130 bps.

As of Feb. 27, there was about $2.75 billion aggregate principal amount outstanding under the facilities.

Becton Dickinson is a Franklin Lakes, N.J., medical technology and supply company.

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