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Julie Cohen
Director of Marketing and Communications
212.701.3614
jcohen@cahill.com

Cahill Represents Debt Financing Sources in $2.15 Billion of Debt Financings for Embecta Corp., Consisting of $700 Million of Notes Offerings, a $200 Million Tender Offer and $1.45 Billion of Credit Facilities

Date: 04/01/22

Cahill represented the initial purchasers in connection with two Rule 144A offerings by Embecta Corp., consisting of $500,000,000 aggregate principal amount of 5.000% senior secured notes due 2030 and $200,000,000 aggregate principal amount of 6.750% senior secured notes due 2030 and represented the offeror in connection with a $200 million tender offer by Morgan Stanley for Becton, Dickinson and Company’s existing notes. Cahill also represented the lead arrangers in connection with a $950,000,000 term B credit facility and a $500,000,000 revolving credit facility for Embecta Corp. Proceeds from the offerings and the credit facilities were used (i) to fund a dividend to Becton, Dickinson and Company in connection with the spin-off transaction of Embecta Corp. from Becton, Dickinson and Company, (ii) to pay fees and expenses relating to the debt financings and the contemplated spin-off transaction, and (iii) for general corporate purposes. Embecta Corp. is a global medical device company focused on the diabetes care business.