BECTON DICKINSON & CO 8-K

What Happened

• Becton Dickinson & Co. (BD) and its subsidiary Becton Dickinson Euro Finance S.à r.l. entered an underwriting agreement on May 11, 2026 to offer €600,000,000 aggregate principal of 3.855% Notes due 2033. The Euro Notes will be fully and unconditionally guaranteed by BD.
• BD and Becton Finance expect to use the net proceeds, together with cash on hand, to repay in full the outstanding 1.208% Euro Notes due June 4, 2026. The Offering is expected to close on or about May 20, 2026, subject to customary closing conditions. Several major banks are lead underwriters, including Barclays, BNP Paribas, Goldman Sachs and Morgan Stanley.

Key Details

• Offering size: €600,000,000 of 3.855% Notes due 2033.
• Guarantor: Becton Dickinson & Co. (senior unsecured guarantee).
• Use of proceeds: Repay in full the 1.208% Euro Notes maturing June 4, 2026, plus accrued interest, fees and expenses.
• Expected timing: Offering expected to close on or about May 20, 2026; underwriting agreement dated May 11, 2026.
• Note on parties: Certain underwriters or affiliates may hold some of the maturing 1.208% notes and could receive a portion of the Offering proceeds.

Why It Matters

• This transaction would extend BD’s debt maturity profile by replacing near-term maturing debt (due June 2026) with longer-dated debt (2033), reducing immediate refinancing pressure.
• The new notes carry a higher coupon (3.855%) than the maturing 1.208% notes, which means higher interest cost on this portion of debt going forward, offset by the benefit of a longer maturity.
• Investors should watch the closing completion and any additional disclosures for final terms, the company’s overall cash/debt position, and how the refinancing fits into BD’s broader capital allocation plans.