BD has started an offer to repurchase all of its outstanding 3.000% Notes until May 15, 2026 that were issued for certain of Bard’s outstanding senior notes, which exchange offer was consummated in connection with BD’s acquisition of Bard.
The Offer is being made in accordance with the terms and conditions set forth in the offer to repurchase, dated January 8, 2018 (as it may be amended or supplemented from time to time, the “Offer to Repurchase”). The Offer is scheduled to expire at 5:00 p.m., New York City time, on March 1, 2018, unless extended (the “Expiration Date”).
BD’s announcement says that, the company is required, within 10 days following the consummation of BD’s acquisition of Bard, to begin the Offer.
According to the company, under the terms of the Offer, holders who validly tender and do not validly withdraw their Notes prior to the Expiration Date will be entitled to receive cash equal to 101% of the principal amount of Notes validly tendered and not validly withdrawn plus accrued and unpaid interest, if any, to the date of purchase, subject to the rights of holders of Notes on the relevant record date to receive interest due on the relevant interest payment date.
The settlement date of the Offer will be promptly after the Expiration Date and is expect to occur on March 6, 2018, the company said.