NEW YORK (GenomeWeb News) – Becton Dickinson has sold $750 million worth of new notes and intends to use the proceeds to repay outstanding notes, contribute to its pension plan, and for general corporate purposes, which may include acquisitions.
The firm sold $500 million worth of 5 percent notes due May 15, 2019, and it sold $250 million worth of notes due May 15, 2039. After underwriting discounts and commissions, BD estimated that its net proceeds would be around $738 million.
Goldman Sachs and Morgan Stanley acted as representatives for several underwriters listed in the firm's prospectus.
In Wednesday afternoon trade on the New York Stock Exchange, BD's shares were up 1 percent at $65.