- In a regulatory filing, Becton, Dickinson and Company (BDX -1.8%) reports that it has replaced its $1B credit credit agreement established in May 2012 with a new five-year credit deal that provides up to $1.5B of financing with a provision for an additional $500M subject to conditions. The arrangement includes a $100M letter of credit subfacility.
- Borrowings may used for general corporate purposes at prevailing interest rates and the company's credit ratings. The single financial covenant requires BDX to maintain a minimum interest coverage ratio of 5:1 for its most recent four consecutive fiscal quarters.