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BD Enters Credit Agreement for up to $1.5B

NEW YORK (GenomeWeb News) – Becton Dickinson said on Thursday it has entered into a five-year agreement for the creation of an unsecured revolving credit facility for up to $1.5 billion.

The facility, which expires in May 2017, provides BD with $1 billion of financing, as well as access to an additional $500 million of financing, subject to additional commitments by the lenders.

Citibank acted as administrative agent on the agreement, which was reached on May 18. Citigroup Global Markets, along with the Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, and JP Morgan Securities were the joint lead arrangers and joint book runners.

With the signing of the new credit facility, BD terminated an earlier $1 billion credit agreement dated Dec. 1 2006. The company said it had no outstanding borrowings under that agreement.

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.