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BD to Seek $1B Loan Facility; Expects to Incur Less Debt for CareFusion Acquisition

NEW YORK (GenomeWeb) – Becton Dickinson today disclosed in a filing with the US Securities and Exchange Commission that it expects to seek commitments for a new, 364-day $1 billion term loan facility, which it expects to use to partly fund its $12.2 billion acquisition of CareFusion.

Two weeks ago, BD said that it had entered into a $9.1 bridge loan agreement to help fund the acquisition. But today the firm said that it now expects to use a greater portion of its cash on hand to fund the cash consideration of the deal. As a result, it expects to incur roughly $7.7 billion in debt connected to the acquisition, which includes the term loan facility, rather than the previously announced $9.1 billion.

With the lower amount of debt, BD now expects the CareFusion acquisition to be accretive to its earnings per share on a high-teen percentage basis in the first full year following completion of the deal.

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