June 03, 2024 11:34 GMT
Becton Dickinson (BDX: Baa2 / BBB/ BBB): ASW Curves
HEALTHCARE
BDX will issue $3.2bn of new debt. It has issued in both EUR and USD in February.
- Graph attached shows the levels of XCCY USD Equivalent Asset Swap.
- The two curves are broadly similar with EUR BDX 1.213 36 perhaps a little rich.
- Basically, we would expect BDX to be fairly neutral about the currency of issuance.
- Neither particularly stands out but, yes, we could see some EUR
Currency Years asw usd BDX 0.334 28 EURO 4.19 88.7 BDX 3.553 29 EURO 5.27 104.8 BDX 1.213 36 EURO 11.69 109.2 BDX 1.336 41 EURO 17.19 128.5 BDX 4.874 29 USD 4.68 85.6 BDX 4.298 32 USD 8.22 114.3 BDX 5.11 34 USD 9.68 125.6 BDX 4.685 44 USD 20.53 137.8
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