Becton Dickinson & Co. disclosed Wednesday it was offering the sale of $1.5 billion in 10-year and 30-year notes, as the medical technology company looks to repay $1 billion in debt due this year. The offerings include $750 million in 2.823% notes due 2030 and $750 million in 3.794% notes due 2050. That compares with the yield on the 10-year Treasury note of 0.678% and the yield on the 30-year Treasury bond of 1.381%. The company said it expects to use the proceeds plus cash on hand to repay the $1 billion in 2.404% notes due 2020, and to fund a partial redemption of its 3.250% notes, also due this year. Becton Dickinson's stock, which was still inactive in premarket trading, has gained 3.0% over the past three months while the S&P 500 has lost 14.9%.
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