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BD Sells $1.5B of Notes

NEW YORK (GenomeWeb News) – Becton Dickinson announced it has sold $1.5 billion of notes.

In a document filed with the US Securities and Exchange Commission on Tuesday, the company said that it entered into an underwriting agreement with Goldman Sachs and Morgan Stanley as representatives of several underwriters for the offer and sale of $500 million aggregate principal amount of 1.750 percent notes due Nov. 8, 2016, and $1 billion aggregate principal amount of 3.125 percent notes due Nov. 8, 2021.

The notes were offered and sold pursuant to an automatic shelf registration statement filed with the SEC on May 8, 2009, and supplemented by a final prospectus supplement filed with the agency last Friday.

In that document, BD said that net proceeds from the offering are expected be about $1.49 billion, and would be used for general corporate purposes, including funding for working capital, capital expenditures, repurchases of capital stock, and acquisitions.

In addition to Goldman Sachs and Morgan Stanley, underwriters include JP Morgan Securities, Citigroup Global Markets, Mitsubishi UFJ Securities, and others.

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