as issuer Becton, Dickinson and Company as guarantor Debt Securities Underwriting Agreement
Exhibit 1.1
Becton ▇▇▇▇▇▇▇▇▇ Euro Finance S.à ▇.▇.
as issuer
Becton, ▇▇▇▇▇▇▇▇▇ and Company
as guarantor
Debt Securities
May 21, 2019
Barclays Bank PLC
▇▇▇▇▇▇▇ Sachs International
▇.▇. ▇▇▇▇▇▇ Securities plc
Academy Securities, Inc.
BNY Mellon Capital Markets, LLC
ING Bank N.V., Belgian Branch
Loop Capital Markets LLC
PNC Capital Markets LLC
Standard Chartered Bank
The Toronto-Dominion Bank
U.S. Bancorp Investments, Inc.
The ▇▇▇▇▇▇▇▇ Capital Group, L.P.
Ladies and Gentlemen:
Becton ▇▇▇▇▇▇▇▇▇ Euro Finance S.à ▇.▇., a Luxembourg private limited liability company (société à responsabilité limitée) having its registered office at ▇-▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, 412 F, route ▇’▇▇▇▇ and registered with the Luxembourg trade and companies register (Registre de commerce et des sociétés, Luxembourg) under number B234229 (the “Company”) proposes, subject to the terms and conditions stated herein, to issue and sell to the underwriters
named in Schedule I hereto (the “Underwriters”) an aggregate of (i) €600,000,000 principal amount of its 0.174% Notes due 2021 (the “2021 Notes”), (ii) €800,000,000 principal amount of its 0.632% Notes due 2023 (the “2023 Notes”) and (iii)
€600,000,000 principal amount of its 1.208% Notes due 2026 (the “2026 Notes” and, together with the 2021 Notes and the 2023 Notes, the “Securities”). The Securities will be fully and unconditionally guaranteed as to payment of principal, premium,
if any, and interest (the “Guarantees”) by Becton, ▇▇▇▇▇▇▇▇▇ and Company, a New Jersey corporation (the “Guarantor”) and the indirect parent of the Company. The Securities and Guarantees are to be issued pursuant to the Indenture, dated as of May
17, 2019 (the “Base Indenture”), among the Company, the Guarantor and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), as amended and supplemented by the First Supplemental Indenture thereto, to be dated as of June 4,
2019 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”).
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1. The Company and the Guarantor,
jointly and severally, represent and warrant to, and agree with each of the Underwriters that:
(a) An “automatic shelf registration
statement” as defined under Rule 405 under the Securities Act of 1933, as amended (the “Act”) on Form S-3 (File No. 333-224464) in respect of the Securities has been filed with the Securities and Exchange Commission (the “Commission”) not earlier
than three years prior to the date hereof; such registration statement, and any post-effective amendment thereto, became effective on filing; and no stop order suspending the effectiveness of such registration statement or any part thereof has been
issued and no proceeding for that purpose or pursuant to Section 8A of the Act has been initiated or, to the Guarantor’s and the Company’s knowledge, threatened by the Commission, and no notice of objection of the Commission to the use of such
registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act has been received by the Guarantor or the Company (the base prospectus filed as part of such registration statement, in the form in which it has
most recently been filed with the Commission on or prior to the date of this Agreement, is hereinafter called the “Basic Prospectus”; any preliminary prospectus (including any preliminary prospectus supplement) relating to the Securities filed with
the Commission pursuant to Rule 424(b) under the Act is hereinafter called a “Preliminary Prospectus”; the various parts of such registration statement, including all exhibits thereto but excluding Form T‑1 and including any prospectus supplement
relating to the Securities that is filed with the Commission and deemed by virtue of Rule 430B to be part of such registration statement, each as amended at the time such part of the registration statement became effective, are hereinafter
collectively called the “Registration Statement”; the Basic Prospectus, as amended and supplemented immediately prior to the Applicable Time (as defined in Section 1(c) hereof), is hereinafter called the “Pricing Prospectus”; the form of the final
prospectus relating to the Securities filed with the Commission pursuant to Rule 424(b) under the Act in accordance with Section 5(a) hereof is hereinafter called the “Prospectus”; any reference herein to the Basic Prospectus, the Pricing
Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form S‑3 under the Act, as of the date of such prospectus; any reference to any
amendment or supplement to the Basic Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include any post-effective amendment to the Registration Statement, any prospectus supplement relating to the Securities
filed with the Commission pursuant to Rule 424(b) under the Act and any documents filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and incorporated therein, in each case after the date of the Basic Prospectus, such
Preliminary Prospectus, or the Prospectus, as the case may be; any reference to any amendment to the Registration Statement shall be deemed to refer to and include any annual report of the Guarantor filed pursuant to Section 13(a) or 15(d) of the
Exchange Act after the effective date of the Registration Statement that is incorporated by reference in the Registration Statement; and any “issuer free writing prospectus” as defined in Rule 433 under the Act relating to the Securities is
hereinafter called an “Issuer Free Writing Prospectus”);
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(b) No order preventing or suspending
the use of any Preliminary Prospectus or any Issuer Free Writing Prospectus has been issued by the Commission, and each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements of the Act and the
Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and the rules and regulations of the Commission thereunder, and did not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in
reliance upon and in conformity with information furnished in writing to the Company and the Guarantor by an Underwriter expressly for use therein;
(c) For the purposes of this Agreement,
the “Applicable Time” is 5:30 p.m. (London time) on the date of this Agreement; the Pricing Prospectus as supplemented by the final term sheet prepared and filed pursuant to Section 5(a) hereof, taken together (collectively, the “Pricing Disclosure
Package”), as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading; and each Issuer Free Writing Prospectus listed on Schedule II(a) hereto, if any, does not conflict with the information contained in the Registration Statement, the Pricing Prospectus or the Prospectus and each such Issuer Free Writing
Prospectus, as supplemented by and taken together with the Pricing Disclosure Package as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements or omissions made in the Pricing Disclosure Package or an Issuer Free
Writing Prospectus in reliance upon and in conformity with information furnished in writing to the Company and the Guarantor by an Underwriter expressly for use therein;
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(d) The documents incorporated by
reference in the Pricing Prospectus and the Prospectus, when they became effective or were filed with the Commission, as the case may be, conformed in all material respects to the requirements of the Act or the Exchange Act, as applicable, and the
rules and regulations of the Commission thereunder, and none of such documents contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not
misleading; any further documents so filed and incorporated by reference in the Prospectus or any further amendment or supplement thereto, when such documents become effective or are filed with the Commission, as the case may be, will conform in
all material respects to the requirements of the Act or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder and will not contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with
information furnished in writing to the Company and the Guarantor by an Underwriter expressly for use therein; and no such documents were filed with the Commission since the Commission’s close of business on the business day immediately prior to
the date of this Agreement and prior to the execution of this Agreement, except as set forth on Schedule II(b) hereto;
(e) The Registration Statement
conforms, and the Prospectus and any further amendments or supplements to the Registration Statement and the Prospectus will conform, in all material respects to the requirements of the Act and the Trust Indenture Act and the rules and regulations
of the Commission thereunder and do not and will not, as of the applicable effective date as to each part of the Registration Statement and as of the applicable filing date as to the Prospectus and any amendment or supplement thereto, contain an
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not
misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company and the Guarantor by an Underwriter
expressly for use therein;
(f) Neither the Guarantor nor any of
its subsidiaries has sustained since the date of the latest audited financial statements included or incorporated by reference in the Pricing Prospectus any loss or interference with its business from fire, explosion, flood or other calamity,
whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Pricing Prospectus, which event is material to the Guarantor and its subsidiaries,
taken as a whole; and, since the respective dates as of which information is given in the Registration Statement and the Pricing Prospectus, there has not been any change in the capital stock (other than the issuance of shares under the Guarantor’s
employee benefit or stock purchase plans or upon conversion of outstanding convertible debt of the Guarantor) or long term obligations of the Company or the Guarantor and its subsidiaries which are material taken as a whole or any material adverse
change, or any development involving a prospective material adverse change, in or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the Guarantor and its subsidiaries taken as a whole,
otherwise than as set forth or contemplated in the Pricing Prospectus;
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(g) Each of the Company and the
Guarantor has been duly incorporated or formed and is validly existing as a corporation or a company, as the case may be, in good standing (to the extent good standing is applicable in such jurisdiction) under the laws of its jurisdiction of
incorporation or formation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Pricing Prospectus, and is duly qualified as a foreign corporation for the transaction of business and is
in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification; and each subsidiary of the Guarantor has been duly incorporated or formed and is
validly existing as a corporation or company in good standing (to the extent good standing is applicable in such jurisdiction) under the laws of its jurisdiction of incorporation or formation and is duly qualified as a foreign corporation or
company for the transaction of business and in good standing under the laws of each other jurisdiction in which it owns or leases properties, or conducts any business, so as to require such qualification, except in those instances with respect to
the Guarantor and its subsidiaries where failure to be so qualified or in good standing would not have a material adverse effect on the business or financial condition of the Guarantor and its subsidiaries taken as a whole;
(h) The Guarantor has an authorized
capitalization as set forth in the Pricing Prospectus and all of the issued shares of capital stock of the Guarantor have been duly and validly authorized and issued and are fully paid and non-assessable and all of the issued shares of capital
stock or ownership interests of each subsidiary of the Guarantor have been duly and validly authorized and issued, are fully paid and, to the extent applicable, non-assessable and (except for directors’ qualifying shares and minority interests
reflected in the Guarantor’s consolidated financial statements included or incorporated in the Prospectus) are owned directly or indirectly by the Guarantor, free and clear of all liens, encumbrances, equities or claims;
(i) The Securities have been duly
authorized and, when issued and delivered pursuant to this Agreement, will have been duly executed, authenticated, issued and delivered and will constitute valid and legally binding obligations of the Company entitled to the benefits provided by
the Indenture, under which they are to be issued, which is substantially in the form filed as an exhibit to the Registration Statement or such other form as shall have previously been agreed to by you; the Indenture has been duly authorized and
duly qualified under the Trust Indenture Act and constitutes a valid and legally binding instrument, enforceable in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and other laws of general
applicability relating to or affecting creditors’ rights and to general equity principles; the Securities, the Guarantees and the Indenture will conform to the descriptions thereof in the Pricing Disclosure Package and the Prospectus; the
Guarantees have been duly authorized by the Guarantor and when the Securities are issued and delivered pursuant to this Agreement, the Guarantees will have been duly executed, issued and delivered and will constitute the valid and legally binding
obligations of the Guarantor, enforceable in accordance with its terms, subject as to enforcement, to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors’ rights and to general equity
principles;
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(j) The issue and sale of the
Securities, the issue of the Guarantees and the compliance by the Company and the Guarantor with all of the provisions of the Securities, the Guarantees, the Indenture and this Agreement, as applicable, and the consummation of the transactions
herein and therein contemplated will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument
to which the Guarantor or any of its subsidiaries is a party or by which the Guarantor or any of its subsidiaries is bound or to which any of the property or assets of the Guarantor or any of its subsidiaries is subject, result in any violation of
the provisions of the articles of association of the Company or the Certificate of Incorporation, as amended, or Bylaws of the Guarantor or result in any violation of any statute or any order, rule or regulation of any court or governmental agency
or body having jurisdiction over the Guarantor or any of its subsidiaries or any of their respective properties; and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body
is required for the issue and sale of the Securities, the issue of the Guarantees or the consummation by the Company and the Guarantor of the transactions contemplated by this Agreement or the Indenture except such as have been obtained under the
Act and the Trust Indenture Act and such consents, approvals, authorizations, registrations or qualifications as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Securities by the
Underwriters;
(k) The statements set forth in the
Pricing Prospectus and the Prospectus under the caption “Description of Notes” insofar as they purport to constitute a summary of the terms of the Securities, the Guarantees and the Indenture, and under the caption “Underwriting”, insofar as they
purport to describe the provisions of the laws and documents referred to therein, are accurate, complete and fair;
(l) Other than as set forth in the
Pricing Prospectus, there are no legal or governmental proceedings pending to which the Guarantor or any of its subsidiaries is a party or of which any property of the Guarantor or any of its subsidiaries is the subject which would individually or
in the aggregate reasonably be expected to have a material adverse effect on the consolidated financial position, stockholders’ equity or results of operations of the Guarantor and its subsidiaries taken as a whole; and, to the best of the
Guarantor’s and the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others; and there is no legal or governmental proceeding to which the Guarantor or any of its subsidiaries is a
party or of which any property of the Guarantor or any of its subsidiaries is the subject that would be required to be disclosed in the Registration Statement, the Pricing Prospectus or the Prospectus and is not so disclosed;
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(m) Neither the Company nor the
Guarantor is and, after giving effect to the offering and sale of the Securities, the issuance of the Guarantees and the application of the proceeds thereof, will be an “investment company”, as such term is defined in the Investment Company Act of
1940, as amended;
(n) (i) (A) At the time of filing the Registration Statement, (B) at the time of the most recent amendment thereto for
the purposes of complying with Section 10(a)(3) of the Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or 15(d) of the Exchange Act or form of prospectus), (C) at the time of filing of
post-effective Amendment No. 1 to the Registration Statement and (D) at the time the Company or any person acting on its behalf (within the meaning, for this clause only, of Rule 163(c) under the Act) made any offer relating to the Securities in
reliance on the exemption of Rule 163 under the Act, each of the Guarantor, and, with respect to clauses (C) and (D) only, the Company, was a “well-known seasoned issuer” as defined in Rule 405 under the Act; and (ii) at the earliest time after the
filing of the Registration Statement that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Act) of the Securities, neither the Company nor the Guarantor was an “ineligible issuer” as
defined in Rule 405 under the Act;
(o) Ernst & Young LLP, who have
certified certain financial statements of the Guarantor and its subsidiaries and have audited the Guarantor’s internal control over financial reporting, are independent public accountants in respect of the Guarantor as required by the Act and the
rules and regulations of the Commission thereunder;
(p) The financial statements and the
related notes thereto included or incorporated by reference in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus comply in all material respects with the applicable requirements of the Act and the Exchange Act
and the rules and regulations thereunder, as applicable, and present fairly in all material respects the financial position of the Guarantor and its subsidiaries as of the dates indicated and the results of their operations and the changes in their
cash flows for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods covered thereby, and the supporting schedules
included or incorporated by reference in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus, when read in conjunction with the related financial statements, present fairly in all material respects the information
required to be stated therein; and the other financial information included or incorporated by reference in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus has been derived from the accounting records of the
Guarantor and its subsidiaries and presents fairly in all material respects, on the basis stated therein, the information shown thereby. The interactive data in eXtensbile Business Reporting Language included or incorporated by reference in the
Registration Statement, the Pricing Disclosure Package and the Prospectus fairly presents the information called for in all material respects and is prepared in accordance with the Commission’s rules and guidelines applicable thereto;
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(q) The Guarantor maintains a system of
internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that complies with the requirements of the Exchange Act and has been designed by the Guarantor’s principal executive officer and principal
financial officer, or under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles. The Guarantor believes its internal control over financial reporting is effective and the Guarantor is not aware of any material weaknesses in its internal control over financial reporting;
(r) Since the date of the latest
audited financial statements included or incorporated by reference in the Pricing Prospectus and except as set forth in the Pricing Prospectus, there has been no change in the Guarantor’s internal control over financial reporting that has
materially affected, or is reasonably likely to materially affect, the Guarantor’s internal control over financial reporting;
(s) Neither the Company nor the
Guarantor has taken, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any securities of the Company or the Guarantor in
connection with the offering of the Securities;
(t) The Guarantor maintains disclosure
controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that material information
relating to the Guarantor and its subsidiaries is made known to the Guarantor’s principal executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are effective;
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(u) Neither the Guarantor nor any of
its subsidiaries or affiliates, nor, to the Guarantor’s and the Company’s knowledge, any director, manager, officer, employee, agent or representative of the Guarantor or of any of its subsidiaries or affiliates, has taken or will take any action
on behalf of the Guarantor or the Company in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any “government
official” (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political
party or party official or candidate for political office) to influence official action or secure an improper advantage in favor of the Guarantor or the Company; and the Guarantor and its subsidiaries and affiliates have conducted their businesses
in compliance with applicable anti-corruption laws and have instituted and maintain and will continue to maintain policies and procedures designed to promote and achieve compliance with such laws and with the representation and warranty contained
herein, except in each case, as would not be expected to have a material adverse effect on the Guarantor and its subsidiaries taken as a whole or on the transactions contemplated herein;
(v) To the Guarantor’s and the
Company’s knowledge, the operations of the Guarantor and its subsidiaries are and have been conducted at all times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy
Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions
where each of the Guarantor and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the
“Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Guarantor or any of its subsidiaries with respect to the Anti-Money Laundering Laws is
pending or, to the best knowledge of the Guarantor and the Company, threatened;
(w) (i) The Guarantor and the Company
represent that neither the Guarantor nor any of its subsidiaries (collectively, the “Entity”) or, to the knowledge of the Entity, any director, manager or officer of the Entity, is an individual or entity (“Person”) that is, or is owned or
controlled by a Person that is:
(A) the subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets
Control, or any similar sanctions imposed by any other authority to which the Entity is currently subject (collectively, “Sanctions”), nor
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(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without
limitation, Cuba, Iran, North Korea, Syria and Crimea);
(ii) The Entity represents and covenants that, except pursuant to appropriate government authorization or as exempted
from such regulation, it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the
time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating
in the offering, whether as underwriter, advisor, investor or otherwise); and
(iii) The Entity represents and covenants that, except pursuant to appropriate government authorization or as exempted
from such regulation, for the past three (3) years, it has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the
dealing or transaction is or was the subject of Sanctions;
(x) Except as disclosed in the
Registration Statement, the Pricing Disclosure Package and the Prospectus, (i) (x) to the Guarantor’s and the Company’s knowledge after due inquiry, there has been no security breach or other compromise of or relating to the Guarantor’s or any of
its subsidiaries’ information technology and computer systems, networks, hardware, software, data (including the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them),
equipment or technology (collectively, “IT Systems and Data”) and (y) none of the Guarantor or its subsidiaries have been notified of, or have any knowledge of any event that would reasonably be expected to result in, any security breach or other
compromise to their IT Systems and Data; (ii) the Guarantor and its subsidiaries are presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or
regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification,
except as would not, in the case of clauses (i) and (ii), individually or in the aggregate, have a material adverse effect on the Guarantor and its subsidiaries taken as a whole; and (iii) the Guarantor and its subsidiaries have implemented backup
and disaster recovery technology consistent with industry standards and practices;
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(y) There are no stamp or other
issuance or transfer taxes or duties or other similar fees or charges required to be paid by or on behalf of the Underwriters in Luxembourg or any political subdivision or taxing authority thereof in connection with the execution and delivery of
this Agreement, the Securities and the Indenture or the offer or sale of the Securities and the issue of the Guarantees, except in the case of voluntary registration of such documents in Luxembourg and/or the registration of such documents in
Luxembourg, which will be required where such documents are physically attached (annexé(s)) to a public deed or to any other document subject to mandatory
registration, in which case either a nominal registration duty or an ad valorem duty will be payable depending on the nature of the document to be
registered;
(z) Except as disclosed in the
Registration Statement, the Pricing Disclosure Package and the Prospectus, all payments to be made by the Company or the Guarantor under this Agreement shall be paid free and clear of and without deduction or withholding for or on account of, any
present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature, imposed by the United States of America or the Grand Duchy of Luxembourg, or by any department, agency or other political subdivision or taxing
authority thereof or therein, and all interest, penalties or similar liabilities with respect thereto (collectively, “Taxes”); if any Taxes are required by law to be deducted or withheld in connection with such payments, the Company will increase
the amount paid so that the full amount of such payment is received by the Underwriters.
2. Subject to the terms and
conditions herein set forth, the Company agrees to issue and sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at a purchase price of (i) 99.8% of the principal amount of
the 2021 Notes, (ii) 99.7% of the principal amount of the 2023 Notes and (iii) 99.6% of the principal amount of the 2026 Notes, in each case plus accrued interest, if any, from June 4, 2019 to the Time of Delivery (as defined below) hereunder, the
respective principal amounts of Securities set forth opposite the name of such Underwriter in Schedule I hereto.
3. Upon the authorization by Barclays
Bank PLC, ▇▇▇▇▇▇▇ ▇▇▇▇▇ International and ▇.▇. ▇▇▇▇▇▇ Securities plc (the “Representatives”) of the release of the Securities, the several Underwriters propose to offer the Securities for sale upon the terms and conditions set forth in the
Prospectus.
4. (a) Each series of the Securities
to be purchased by each Underwriter hereunder will be represented by one or more definitive global Securities in book-entry form which will be registered in the name of a nominee of Euroclear Bank S.A./N.V. (“Euroclear”) and Clearstream Banking
S.A. (“Clearstream”). Payment for the Securities shall be made by or on behalf of the Underwriters to the Company in immediately available funds in euro by wire transfer through a common depositary for Euroclear and Clearstream (the “Common
Depositary”) to the account specified by the Company to the Underwriters at least forty-eight hours in advance against delivery of the Securities to Underwriters, with any transfer taxes payable in connection with the transfer of the Securities to
the Underwriters duly paid by the Company. The Company will cause the certificates representing the Securities and the Guarantees to be made available to the Representatives for checking at least twenty-four hours prior to the Time of Delivery (as
defined below). The time and date of such delivery and payment shall be at or about 10:00 a.m., London time, on June 4, 2019 or such other time and date as the Representatives and the Company may agree upon in writing. Such time and date are
herein called the “Time of Delivery”.
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(b) The documents to be delivered at the Time of Delivery
by or on behalf of the parties hereto pursuant to Section 8 hereof, including the cross-receipt for the Securities and any additional documents requested by the Underwriters pursuant to Section 8(j) hereof, will be delivered at the offices of
▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, and the Securities and the Guarantees will be delivered at the office of the Common Depository, all at the Time of Delivery. Final drafts of the documents to be delivered pursuant to the preceding sentence will be available for review by the parties hereto on the Business Day next preceding the Time of Delivery. For the
purposes of this Section 4, “Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City or London, England are generally authorized or obligated by law or
executive order to close.
5. Each of the Company and the
Guarantor, jointly and severally, agrees with each of the Underwriters:
(a) To prepare the Prospectus in a form approved by you
and to file such Prospectus pursuant to Rule 424(b) under the Act not later than the Commission’s close of business on the second business day following the date of this Agreement; to make no further amendment or any supplement to the Registration
Statement, the Basic Prospectus or the Prospectus prior to the Time of Delivery which shall be disapproved by you promptly after reasonable notice thereof; to advise you, promptly after it receives notice thereof, of the time when any amendment to
the Registration Statement has been filed or becomes effective or any amendment or supplement to the Prospectus has been filed and to furnish you with copies thereof; to prepare a final term sheet, relating to the Securities, in a form approved by
you and to file such term sheet pursuant to Rule 433(d) under the Act within the time required by such Rule; to file promptly all other material required to be filed by the Company with the Commission pursuant to Rule 433(d) under the Act; to file
promptly all reports and any definitive proxy or information statements required to be filed by the Company or the Guarantor with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the
Prospectus and for so long as the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is required in connection with the offering or sale of the Securities; to advise you, promptly after it receives
notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus in respect of the Securities, of any notice of objection of the Commission to the
use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act, of the suspension of the qualification of the Securities for offering or sale in any jurisdiction, of the initiation or threatening
of any proceeding for any such purpose or pursuant to Section 8A of the Act, or of any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional information; and, in the event of
the issuance of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus or suspending any such qualification, to promptly use its best efforts to obtain the withdrawal of such order; and in
the event of any such issuance of a notice of objection, promptly to take such steps including, without limitation, amending the Registration Statement or filing a new registration statement, at its own expense, as may be necessary to permit offers
and sales of the Securities by the Underwriters (references herein to the Registration Statement shall include any such amendment or new registration statement);
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(b) If required by Rule 430B(h) under the Act, to prepare
a form of prospectus in a form approved by you and to file such form of prospectus pursuant to Rule 424(b) under the Act not later than may be required by Rule 424(b) under the Act; and to make no further amendment or supplement to such form of
prospectus which shall be disapproved by you promptly after reasonable notice thereof;
(c) If by the third anniversary (the “Renewal Deadline”)
of the initial effective date of the Registration Statement, any of the Securities remain unsold by the Underwriters, the Company and the Guarantor will file, if they have not already done so and are each eligible to do so, a new automatic shelf
registration statement relating to the Securities and the Guarantees, in a form satisfactory to you. If at the Renewal Deadline the Company and the Guarantor are no longer eligible to file an automatic shelf registration statement, the Company and
the Guarantor will, if they have not already done so, file a new shelf registration statement relating to the Securities and the Guarantees, in a form satisfactory to you and will use their respective best efforts to cause such registration
statement to be declared effective within 180 days after the Renewal Deadline. The Company and the Guarantor will take all other action necessary or appropriate to permit the public offering and sale of the Securities to continue as contemplated
in the expired registration statement relating to the Securities and the Guarantees. References herein to the Registration Statement shall include such new automatic shelf registration statement or such new shelf registration statement, as the
case may be;
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(d) Promptly from time to time to take such action as you
may reasonably request to qualify the Securities and the Guarantees for offering and sale under the securities laws of such jurisdictions as you may request
and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions for as long as may be necessary to complete the distribution of the Securities and the Guarantees, provided that in connection
therewith neither the Company nor the Guarantor shall be required to qualify as a foreign corporation or to file a general consent to service of process in any jurisdiction;
(e) To furnish the Underwriters with written and
electronic copies of the Prospectus in such quantities as you may from time to time reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) is required at any time prior to
the expiration of nine months after the time of issue of the Prospectus, or prior to availability of the Prospectus, the Pricing Prospectus, in connection with the offering or sale of the Securities and if at such time any event shall have occurred
as a result of which the Prospectus, or prior to availability of the Prospectus, the Pricing Prospectus, as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order to
make the statements therein, in the light of the circumstances under which they were made when such Prospectus, or prior to availability of the Prospectus, the Pricing Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the
Act) is delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or supplement the Prospectus, or prior to availability of the Prospectus, the Pricing Prospectus, or to file under the Exchange
Act any document incorporated by reference in the Prospectus, or prior to availability of the Prospectus, the Pricing Prospectus, in order to comply with the Act, the Exchange Act or the Trust Indenture Act, to notify you and upon your request to
file such document and to prepare and furnish without charge to each Underwriter and to any dealer in securities as many written and electronic copies as you may from time to time reasonably request of an amended Prospectus, or prior to
availability of the Prospectus, the Pricing Prospectus, or a supplement to the Prospectus, or prior to availability of the Prospectus, the Pricing Prospectus, which will correct such statement or omission or effect such compliance; and in case any
Underwriter is required to deliver a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Act) in connection with sales of any of the Securities at any time nine months or more after the time of issue of the Prospectus,
upon your request but at the expense of such Underwriter, to prepare and deliver to such Underwriter as many written and electronic copies as you may request of an amended or supplemented Prospectus complying with Section 10(a)(3) of the Act;
(f) To make generally available to their securityholders
as soon as practicable, but in any event not later than sixteen months after the effective date of the Registration Statement (as defined in Rule 158(c) under the Act), an earnings statement of the Guarantor and its subsidiaries (which need not be
audited) complying with Section 11(a) of the Act and the rules and regulations of the Commission thereunder (including, at the option of the Guarantor, Rule 158 under the Act);
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(g) During the period beginning from the date hereof and
continuing to and including the later of the Time of Delivery and such earlier time as you may notify the Company, not to offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose, except as
provided hereunder, of any debt securities of the Company or the Guarantor which mature more than one year after such Time of Delivery and which are substantially similar to the Securities;
(h) To pay the required Commission filing fees relating
to the Securities and the Guarantees within the time required by Rule 456(b)(1) under the Act without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) under the Act;
(i) To use the net proceeds received by it from the sale
of the Securities pursuant to this Agreement in the manner specified in the Pricing Prospectus under the caption “Use of Proceeds”; and
(j) To cooperate with the Underwriters in arranging for
the Securities to be eligible for clearance and settlement through Euroclear and Clearstream.
6. (a) (i) Each of the Company and
the Guarantor, jointly and severally, represents and agrees that, other than the final term sheet prepared and filed pursuant to Section 5(a) hereof, without the prior consent of the Representatives, it has not made and will not make any offer
relating to the Securities or the Guarantees that would constitute a “free writing prospectus” as defined in Rule 405 under the Act;
(ii) each Underwriter represents and agrees that, without
the prior consent of the Company and the Representatives, other than one or more term sheets relating to the Securities and the Guarantees containing customary information and conveyed to purchasers of Securities or any free writing prospectus that
would not be required to be filed with the Commission (including customary Bloomberg communications containing preliminary or final terms of the securities), it has not made and will not make any offer relating to the Securities and the Guarantees
that would constitute a free writing prospectus; and
(iii) any such free writing prospectus the use of which
has been consented to by the Company and the Representatives (other than the final term sheet prepared and filed pursuant to Section 5(a) hereof) is listed on Schedule II(a) hereto;
(b) The Company and the Guarantor have complied and will
comply with the requirements of Rule 433 under the Act applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or retention where required and legending; and
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(c) The Company and the Guarantor agree that if at any
time following issuance of an Issuer Free Writing Prospectus any event occurred or occurs as a result of which such Issuer Free Writing Prospectus would conflict with the information in the Registration Statement, the Pricing Prospectus or the
Prospectus or would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, the Company and the
Guarantor will give prompt notice thereof to the Representatives, if requested by the Representatives, will prepare and furnish without charge to each Underwriter an Issuer Free Writing Prospectus or other document which will correct such conflict,
statement or omission; provided, however, that this representation and warranty shall not apply to any statements or omissions in an Issuer Free Writing Prospectus made in reliance upon and in conformity with information furnished in writing to the
Company and the Guarantor by an Underwriter expressly for use therein.
7. Each of the Company and the
Guarantor, jointly and severally, covenants and agrees with the several Underwriters that the Company and the Guarantor will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company’s and the Guarantor’s
counsel and accountants in connection with the registration of the Securities and the Guarantees under the Act and all other expenses in connection with the preparation, printing, and filing of the Registration Statement, the Basic Prospectus, any
Preliminary Prospectus, any Issuer Free Writing Prospectus and the Prospectus and amendments and supplements thereto and the mailing and delivering of copies thereof to the Underwriters and dealers; (ii) the cost of printing or producing this
Agreement, the Indenture, any blue sky memorandum and any other documents in connection with the offering, purchase, sale and delivery of the Securities and
the Guarantees; (iii) all expenses in connection with the qualification of the Securities and the Guarantees for offering and sale under state securities laws
as provided in Section 5(d) hereof, including the reasonable fees and disbursements of counsel for the Underwriters in connection with such qualification and in connection with any blue sky survey; (iv) any fees charged by securities rating
services for rating the Securities; (v) the cost of preparing the Securities and the Guarantees; (vi) the fees and expenses of the Trustee and any paying agent, registrar or depository and any agent of the Trustee or such paying agent and the fees
and disbursements of counsel for the Trustee and such paying agent in connection with the Indenture, the Securities and the Guarantees; (vii) all expenses and application fees in connection with the listing of the Securities on the NYSE; (viii) all
expenses and application fees in connection with the approval of the Securities for eligibility for clearance and settlement through Euroclear and Clearstream; and (ix) all other costs and expenses incident to the Company’s and the Guarantor’s
performance of their obligations hereunder which are not otherwise specifically provided for in this Section. It is understood, however, that, except as provided in this Section, and Sections 9 and 15 hereof, the Underwriters will pay all of their
own costs and expenses, including the fees of their counsel, all expenses incurred by the Underwriters in connection with any “road show”, transfer taxes on resale of any of the Securities by the Underwriters, and any advertising expenses connected
with any offers they may make.
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8. The obligations of the Underwriters hereunder shall
be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company and the Guarantor herein are, at and as of the Time of Delivery, true and correct, the condition that the Company and the
Guarantor shall have each performed all of their respective obligations hereunder theretofore to be performed, and the following additional conditions:
(a) The Prospectus shall have been filed with the
Commission pursuant to Rule 424(b) under the Act within the applicable time period prescribed for such filing by the rules and regulations under the Act and in accordance with Section 5(a) hereof; the final term sheet contemplated by Section 5(a)
hereof, and any other material required to be filed by the Company or the Guarantor pursuant to Rule 433(d) under the Act, shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433; no stop
order suspending the effectiveness of the Registration Statement or any part thereof shall have been issued and no proceeding for that purpose or pursuant to Section 8A of the Securities Act shall have been initiated or threatened by the Commission
and no notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Act shall have been received; no stop order suspending or preventing the use of the
Prospectus or any Issuer Free Writing Prospectus shall have been initiated or threatened by the Commission; and all requests for additional information on the part of the Commission shall have been complied with to your reasonable satisfaction;
(b) ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP, counsel for the
Underwriters, shall have furnished to you such opinion or opinions, dated the Time of Delivery, in form and substance satisfactory to you, with respect to the incorporation of the Guarantor, the validity of the Indenture, the Securities, the
Guarantees, the Registration Statement, the Prospectus and other related matters as you may reasonably request, and the Company and the Guarantor shall have furnished to such counsel such papers and information as they may reasonably request to
enable them to pass upon such matters;
(c) (i) The Assistant General Counsel for the Guarantor;
(ii) Skadden, Arps, Slate, ▇▇▇▇▇▇▇ & ▇▇▇▇ LLP, acting as special United States counsel for the Company and the Guarantor; and (iii) Loyens & Loeff Luxembourg S.à ▇.▇., acting as special Luxembourg counsel for the Company shall have
furnished to you their respective written opinions (the content of which is set forth in Annex I(a), Annex I(b) and Annex I(c) hereto, respectively), dated the Time of Delivery, in form and substance reasonably satisfactory to you;
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(d) (i) At the time of the execution of this Agreement,
Ernst & Young LLP, as auditors of the Company, shall have furnished to you a letter, dated such date, in form and substance satisfactory to you, to the effect set forth in Annex II hereto; and (ii) at the Time of Delivery, Ernst & Young LLP
shall have furnished to the Underwriters a letter, dated such Time of Delivery, in form and substance satisfactory to the Underwriters, to the effect that they reaffirm the statements made in the relevant letter furnished pursuant to Section
8(d)(i) above, except that the specified date referred to shall be a date not more than three business days prior to the Time of Delivery;
(e) (i) Neither the Guarantor nor any of its subsidiaries
shall have sustained since the date of the latest audited financial statements included or incorporated by reference in the Pricing Prospectus any loss or interference with its business from fire, explosion, flood or other calamity, whether or not
covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Pricing Prospectus, and (ii) since the respective dates as of which information is given in the
Pricing Prospectus there shall not have been any change in the capital stock (other than the issuance of shares under the Guarantor’s employee benefit or stock purchase plans or upon conversion of outstanding convertible debt of the Guarantor) or
long term debt of the Guarantor or any of its subsidiaries or any change, or any development involving a prospective change, in or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the
Guarantor and its subsidiaries, otherwise than as set forth or contemplated in the Pricing Prospectus, the effect of which, in any such case described in clause (i) or (ii), is in your judgment so material and adverse as to make it impracticable or
inadvisable to proceed with the public offering or the delivery of the Securities on the terms and in the manner contemplated in the Prospectus;
(f) On or after the Applicable Time (i) no downgrading
shall have occurred in the rating accorded the Company’s or the Guarantor’s debt securities by any “nationally recognized statistical rating organization”, as that term is defined in Section 3(a)(62) of the Exchange Act, and (ii) no such
organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of any of the Company’s or the Guarantor’s debt securities;
(g) On or after the Applicable Time there shall not have
occurred any of the following: (i) a suspension or material limitation in trading in securities generally on the NYSE; (ii) a suspension or material limitation in trading in the Company’s or the Guarantor’s securities on the NYSE; (iii) a general
moratorium on commercial banking activities declared by Federal, New York State or European Union authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States or the European Union;
or (iv) the outbreak or escalation of hostilities involving the United States or the declaration by the United States of a national emergency or war; or (v) the occurrence of any other calamity or crisis or any change in financial, political or
economic conditions in the United States or the member states of the European Union or elsewhere, if the effect of any such event specified in clause (iv) or (v) in your judgment makes it impracticable or inadvisable to proceed with the public
offering or the delivery of the Securities on the terms and in the manner contemplated by the Prospectus;
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(h) The Securities shall be eligible for clearance and
settlement through Euroclear and Clearstream;
(i) The Securities shall be duly listed and admitted for
trading on the NYSE, subject to official notice of issuance; and
(j) The Company shall have furnished or caused to be
furnished to you at the Time of Delivery certificates of officers of the Company and the Guarantor reasonably satisfactory to you as to the accuracy of the
representations and warranties of the Company and the Guarantor herein at and as of such time, as to the performance by the Company and the Guarantor of all of their respective obligations hereunder to be performed at or prior to such time, as to
the matters set forth in subsections (a) and (e) of this Section and as to such other matters as you may reasonably request.
If any of the conditions specified in this Section 8 shall not have been fulfilled when and as provided in this Agreement, or if any of
the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Representatives and counsel to the Underwriters, this Agreement and all obligations of the Underwriters
hereunder may be canceled at, or at any time prior to, the Time of Delivery by the Representatives. Notice of such cancellation shall be given to the Company in writing or by telephone or facsimile confirmed in writing.
The documents required to be delivered by this Section 8 shall be delivered at the office of ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP, counsel for
the Underwriters, at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, at the Time of Delivery.
9. (a) The Company and the Guarantor, jointly and severally, will indemnify and hold harmless each Underwriter against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become
subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, the Basic Prospectus, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus or any “issuer information” filed or required to be filed
pursuant to Rule 433(d) under the Act, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse
each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company and the Guarantor
shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the
Basic Prospectus, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the
Company and the Guarantor by any Underwriter expressly for use therein.
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(b) Each Underwriter, severally and not jointly, will
indemnify and hold harmless the Company and the Guarantor against any losses, claims, damages or liabilities to which the Company or the Guarantor may become subject, under the Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the Basic Prospectus, any Preliminary Prospectus, the Pricing
Prospectus or the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, the Basic
Prospectus, any Preliminary Prospectus, the Pricing Prospectus or the Prospectus or any such amendment or supplement thereto, or any Issuer Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the
Company and the Guarantor by such Underwriter expressly for use therein; and will reimburse the Company or the Guarantor for any legal or other expenses reasonably incurred by the Company or the Guarantor in connection with investigating or
defending any such action or claim as such expenses are incurred. Each of the Company and the Guarantor acknowledges that the following statements under the caption “Underwriting” in the Prospectus (i) the seventh sentence of the sixth paragraph of
text, concerning market making by the Underwriters, (ii) the third paragraph of text, concerning the terms of the offering by the Underwriters and (iii) the eighth, ninth and tenth paragraphs of text, concerning stabilization, short-positions and
penalty bids created by the Underwriters, constitute the only information furnished in writing to the Company and the Guarantor by or on behalf of the several Underwriters for inclusion in any Preliminary Prospectus, the Pricing Disclosure Package
and the Prospectus.
(c) Promptly after receipt by an indemnified party under
subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under such subsection. In case any such action shall be brought against
any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party) provided that in the event of such assumption the
action may not be compromised or settled by the indemnifying party without the consent of the indemnified party, which consent shall not be unreasonably withheld. After notice from the indemnifying party to such indemnified party of its election so
to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party,
in connection with the defense thereof other than reasonable costs of investigation. The indemnifying party shall not be liable to the indemnified party pursuant to the provisions of this Section 9 in respect of any action compromised or settled
by the indemnified party, unless the written consent of the indemnifying party shall have been obtained to such compromise or settlement (which consent shall not be unreasonably withheld).
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(d) If the indemnification provided for in this Section 9
is unavailable to or insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by
the Company and the Guarantor on the one hand and the Underwriters on the other from the offering of the Securities. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the
indemnified party failed to give the notice required under subsection (c) above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such
relative benefits but also the relative fault of the Company and the Guarantor on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or
actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantor on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as
the total net proceeds from the offering (before deducting expenses) received by the Company and the Guarantor bear to the total underwriting discounts and commissions received by the Underwriters, in each case as set forth in the table on the
cover page of the Prospectus. The relative fault shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to
information supplied by the Company or the Guarantor on the one hand or the Underwriters on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The
Company, the Guarantor and the Underwriters agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose)
or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities
(or actions in respect thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this subsection (d), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered
to the public exceeds the amount of any damages which such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations in this subsection (d) to contribute are several in proportion
to their respective underwriting obligations and not joint.
(e) The obligations of the Company and the Guarantor
under this Section 9 shall be in addition to any liability which the Company or the Guarantor may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning of the
Act and each broker-dealer affiliate of any Underwriter, and the directors, officers and selling agents of each Underwriter; and the obligations of the Underwriters under this Section 9 shall be in addition to any liability which the respective
Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company or the Guarantor, as the case
may be, and to each person, if any, who controls the Company or the Guarantor, as the case may be, within the meaning of the Act.
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10. (a) If at the Time of Delivery, any Underwriter shall
default in its obligation to purchase the Securities which it has agreed to purchase hereunder, the Representatives may in their discretion arrange for any of the Representatives or another party or other parties to purchase such Securities on the
terms contained herein. If within thirty-six hours after such default by any Underwriter the Representatives do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period of thirty-six hours within
which to procure another party or other parties satisfactory to the Representatives to purchase such Securities on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that they have so
arranged for the purchase of such Securities, or the Company notifies the Representatives that it has so arranged for the purchase of such Securities, the Representatives or the Company shall have the right to postpone the Time of Delivery for a
period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company and the Guarantor agree to file
promptly any amendments or supplements to the Registration Statement or the Prospectus which in the opinion of the Representatives may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted
under this Section 10 with like effect as if such person had originally been a party to this Agreement with respect to such Securities.
(b) If, after giving effect to any arrangements for the
purchase of the Securities of a defaulting Underwriter or Underwriters by the Representatives and the Company as provided in subsection (a) above, the aggregate principal amount of such Securities which remains unpurchased does not exceed one
eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to require each non-defaulting Underwriter to purchase the principal amount of Securities which such Underwriter agreed to purchase hereunder
and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the principal amount of Securities which such Underwriter agreed to purchase hereunder) of the Securities of such defaulting Underwriter or
Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default.
(c) If, after giving effect to any arrangements for the
purchase of the Securities of a defaulting Underwriter or Underwriters by the Representatives and the Company as provided in subsection (a) above, the aggregate principal amount of Securities which remains unpurchased exceeds one eleventh of the
aggregate principal amount of all the Securities, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters to purchase Securities of a defaulting Underwriter or Underwriters, then this
Agreement shall thereupon terminate if so decided by the Company upon notice to the Underwriters pursuant to Section 17 hereunder, without liability on the part of any non-defaulting Underwriter or the Company or the Guarantor, except for the
expenses to be borne by the Company, the Guarantor and the Underwriters as provided in Section 7 hereof and the indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Underwriter from liability for
its default.
11. The Company and the Guarantor
hereby authorize Barclays Bank PLC in its role as stabilizing manager (the “Stabilizing Manager”) to make adequate public disclosure regarding stabilization of the information required in relation to such stabilization by Commission Delegated
Regulation (EU) 2016/1052 of 8 March 2016. The Stabilizing Manager for its own account may, to the extent permitted by applicable laws and directives, over-allot and effect transactions with a view to supporting the market price of the Securities
at a level higher than that which might otherwise prevail, but in doing so the Stabilizing Manager shall act as principal and not as agent of the Company and any loss resulting from overallotment and stabilization shall be borne, and any profit
arising therefrom shall be beneficially retained, by the Stabilizing Manager. However, there is no assurance that the Stabilizing Manager (or persons acting on behalf of the Stabilizing Manager) will undertake any stabilization action. Nothing
contained in this paragraph shall be construed so as to require the Company to issue in excess of the aggregate principal amount of Securities specified in Schedule I hereto. Such stabilization, if commenced, may be discontinued at any time and
shall be conducted by the Stabilizing Manager in accordance with all applicable laws and directives.
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12. Solely for the purposes of the
requirements of Article 9(8) of the MIFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules: (a) each of
Barclays Bank PLC, ▇▇▇▇▇▇▇ ▇▇▇▇▇ International and ▇.▇. ▇▇▇▇▇▇ Securities plc (each a “Manufacturer” and together the “Manufacturers”) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the
Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Securities and the related information set out in the Prospectus in connection with the
Securities; and (b) each of the other Underwriters, the Company and the Guarantor note the application of the Product Governance Rules and acknowledges the target market and distribution channels identified as applying to the Securities by the
Manufacturers and the related information set out in the Prospectus in connection with the Securities.
13. If for the purposes of obtaining
judgment in any court it is necessary to convert a sum due hereunder into any currency other than United States dollars, the parties hereto agree, to the fullest extent permitted by law, that the rate of exchange used shall be the rate at which in
accordance with normal banking procedures the Underwriters could purchase United States dollars with such other currency in The City of New York on the business day preceding that on which final judgment is given. The obligation of the Company and
the Guarantor with respect to any sum due from it to any Underwriter or any person controlling any Underwriter or any broker-dealer affiliate of any Underwriter shall, notwithstanding any judgment in a currency other than United States dollars, not
be discharged until the first business day following receipt by such Underwriter or controlling person or broker-dealer affiliate of such Underwriter of any sum in such other currency, and only to the extent that such Underwriter or controlling
person or broker-dealer affiliate of such Underwriter may in accordance with normal banking procedures purchase United States dollars with such other currency. If the United States dollars so purchased are less than the sum originally due to such
Underwriter or controlling person or broker-dealer affiliate of such Underwriter hereunder, the Company and the Guarantor jointly and severally agree, as a separate obligation and notwithstanding any such judgment, to indemnify such Underwriter or
controlling person or broker-dealer affiliate of such Underwriter against such loss. If the United States dollars so purchased are greater than the sum originally due to such Underwriter or controlling person or broker-dealer affiliate of such
Underwriter hereunder, such Underwriter or controlling person or broker-dealer affiliate of such Underwriter agrees to pay to the Guarantor an amount equal to the excess of the dollars so purchased over the sum originally due to such Underwriter or
controlling person or broker-dealer affiliate of such Underwriter hereunder.
23
14. The respective indemnities,
agreements, representations, warranties and other statements of the Company, the Guarantor and the several Underwriters, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full
force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Underwriter or any controlling person of any Underwriter, or the Company or the Guarantor, or any officer or director or
controlling person of the Company or the Guarantor, and shall survive delivery of and payment for the Securities.
15. If this Agreement shall be
terminated pursuant to Section 10 hereof, neither the Company nor the Guarantor shall then be under any liability to any Underwriter except as provided in Sections 7 and 9 hereof; but, if for any other reason, the Securities are not delivered by or
on behalf of the Company as provided herein, the Company and the Guarantor will reimburse the Underwriters for all out of pocket expenses approved in writing by the Representatives, including fees and disbursements of counsel, reasonably incurred
by the Underwriters in making preparations for the purchase, sale and delivery of the Securities, but neither the Company nor the Guarantor shall then be under further liability to any Underwriter except as provided in Sections 7 and 9 hereof.
16. The execution of this Agreement
by all parties will constitute the Underwriters’ acceptance of the ICMA Agreement Among Managers Version 1/New York Schedule subject to any amendment notified to the Underwriters in writing at any time prior to the execution of this Agreement.
References to the “Managers” shall be deemed to refer to the Underwriters, references to the “Lead Manager” shall be deemed to refer to each of the Representatives and references to “Settlement Lead Manager” shall be deemed to refer to ▇▇▇▇▇▇▇
▇▇▇▇▇ International. As applicable to the Underwriters, Clause 3 of the ICMA Agreement Among Managers Version 1/New York Schedule shall be deemed to be deleted in its entirety and replaced with Section 10 of this Agreement.
24
17. All statements, requests, notices
and agreements hereunder shall be in writing, and if to the Underwriters shall be delivered or sent by mail, telex or facsimile transmission to you in care of Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇,
Attention: Debt Syndicate (tel: ▇▇▇-▇▇▇-▇▇▇ 9098, fax: ▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇); ▇▇▇▇▇▇▇ Sachs International, Peterborough Court, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Attention: Syndicate Desk (tel: +4420 ▇▇▇▇ ▇▇▇▇, fax: +4420 ▇▇▇▇ ▇▇▇▇) and
▇.▇. ▇▇▇▇▇▇ Securities plc, ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Attention: Head of Debt Syndicate and Head of EMEA Capital Markets Group; and if to the Company or the Guarantor shall be delivered or sent by mail, telex or
facsimile transmission to the address of the Guarantor set forth in the Registration Statement, Attention: Secretary; provided, however, that any notice to an Underwriter pursuant to Section 9(c) hereof shall be delivered or sent by mail, telex or
facsimile transmission to such Underwriter at its address set forth in its Underwriters’ Questionnaire, or telex constituting such Questionnaire, which address will be supplied to the Company and the Guarantor by the Representatives upon request.
Any such statements, requests, notices or agreements shall take effect upon receipt thereof.
In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the
Underwriters are required to obtain, verify and record information that identifies their respective clients, including the Company and the Guarantor, which information may include the name and address of their respective clients, as well as other
information that will allow the Underwriters to properly identify their respective clients.
18. This Agreement shall be binding
upon, and inure solely to the benefit of, the Underwriters, the Company, the Guarantor and, to the extent provided in Sections 9 and 14 hereof, the officers and directors of the Company and the Guarantor and each person who controls the Company or
the Guarantor or any Underwriter, and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Securities from
any Underwriter shall be deemed a successor or assign by reason merely of such purchase.
19. Time shall be of the essence of
this Agreement. As used herein, the term “business day” shall mean any day when the Commission’s office in Washington, D.C. is open for business.
20. Each of the Company and the
Guarantor acknowledges and agrees that (i) the purchase and sale of the Securities and the issuance of the Guarantees pursuant to this Agreement is an arm’s-length commercial transaction between the Company and the Guarantor, on the one hand, and
the several Underwriters, on the other, (ii) in connection therewith and with the process leading to such transaction each Underwriter is acting solely as a principal and not the agent or fiduciary of the Company or the Guarantor, (iii) no
Underwriter has assumed an advisory or fiduciary responsibility in favor of the Company or the Guarantor with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether such Underwriter has advised or is
currently advising the Company or the Guarantor on other matters) or any other obligation to the Company except the obligations expressly set forth in this Agreement and (iv) each of the Company and the Guarantor has consulted its own legal and
financial advisors to the extent it deemed appropriate. Each of the Company and the Guarantor agrees that it will not claim that the Underwriters, or any of them, has rendered advisory services of any nature or respect, or owes a fiduciary or
similar duty to the Company or the Guarantor, in connection with such transaction or the process leading thereto.
25
21. (a) As used in this Section 21
below, (i) “Bail-in Legislation” means in relation to a member state of the European Economic Area which has implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the
EU Bail-in Legislation Schedule from time to time; (ii) “Bail-in Powers” means any Write-down and Conversion Powers as defined in relation to the relevant Bail-in Legislation; (iii) “BRRD” means Directive 2014/59/EU establishing a framework for the
recovery and resolution of credit institutions and investment firms; (iv) “EU Bail-in Legislation Schedule” means the document described as such, then in effect, and published by the Loan Market Association (or any successor person) from time to
time at ▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/; (v) “BRRD Liability” with respect to any BRRD Party has the same meaning as in such laws, regulations, rules or requirements implementing the BRRD under the Bail-in Legislation applicable to such BRRD Party; (vi)
“BRRD Party” means an institution or entity referred to in point (b), (c) or (d) of Article 1(1) BRRD; and (vii) “Relevant Resolution Authority” means the resolution authority with the ability to exercise any Bail-in Powers in relation to a BRRD
Party.
(b) Notwithstanding any other term of this Agreement or
any other agreements, arrangements, or understanding between any BRRD Party and the Company or the Guarantor, each of the Company and the Guarantor acknowledges, accepts, and agrees to be bound by: (i) the effect of the exercise of Bail-in Powers
by the Relevant Resolution Authority in relation to any BRRD Liability of any BRRD Party to the Company or the Guarantor under this Agreement, that (without limitation) may include and result in any of the following, or some combination thereof,
(A) the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; (B) the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of the relevant BRRD Party or
another person (and the issue to or conferral on the Company of such shares, securities or obligations); (C) the cancellation of the BRRD Liability; and (D) the amendment or alteration of any interest, if applicable, thereon, the maturity or the
dates on which any payments are due, including by suspending payment for a temporary period; and (ii) the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of Bail-in
Powers by the Relevant Resolution Authority.
26
22. Each Underwriter represented and
agreed that: (i) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services
and Markets ▇▇▇ ▇▇▇▇ (the “FSMA”) received by it in connection with the issue or sale of the Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company; and (ii) it has complied and will comply with all applicable
provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom.
23. Each Underwriter has represented
and agreed that it has not offered, sold or otherwise made available and will not offer, sell or otherwise make available any Securities to any retail investor in the European Economic Area. For the purposes of this provision: (a) the expression
“retail investor” means a person who is one (or more) of the following: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”) or (ii) a customer within the meaning of Directive 2002/92/EC (as
amended, the “Insurance Mediation Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II.
24. In recognition of the U.S.
Special Resolutions Regimes, the Company, the Guarantor and each of the Underwriters agree that:
(a) In the event that any Underwriter that is a Covered
Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer
would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
(b) In the event that any Underwriter that is a Covered
Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to be exercised to no greater
extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.
(c) For the purposes of this Section 24,
(i) “BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in
accordance with, 12 U.S.C. § 1841(k);
27
(ii) “Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance
with, 12 C.F.R. § 382.2(b);
(iii) “Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12
C.F.R. §§ 252.81, 47.2 or 382.1, as applicable; and
(iv) “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations
promulgated thereunder and (ii) Title II of the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and the regulations promulgated thereunder.
25. This Agreement supersedes all
prior agreements and understandings (whether written or oral) between the Company or the Guarantor and the Underwriters, or any of them, with respect to the subject matter hereof.
26. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.
27. Each of the Company and the
Guarantor irrevocably submits to the non‑exclusive jurisdiction of any New York State or U.S. Federal court sitting in the Borough of Manhattan in the City of New York over any suit, action or proceeding arising out of or based upon this Agreement
or the transactions contemplated thereby. Each of the Company and the Guarantor irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or
proceeding brought in such a court and any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum. To the extent that the Company has or hereafter may acquire any immunity under New York or
Luxembourg Law (on the grounds of sovereignty or otherwise) from the jurisdiction of any court or from any legal process with respect to itself or its property, the Company irrevocably waives, to the fullest extent permitted by law, such immunity
in respect of any such suit, action or proceeding.
28. The Company hereby appoints the
corporate secretary of the Guarantor as its agent for service of process in any suit, action or proceeding described in the first sentence of Section 27 and agrees that service of process in any such suit, action or proceeding may be made upon it
at the office of such agent. The Company waives, to the fullest extent permitted by law, any other requirements of or objections to personal jurisdiction with respect to such action or proceeding. The Guarantor represents and warrants that it has
agreed to act as its agent for service of process. To the extent that the Company determines to appoint a new agent for service of process, the Company agrees to promptly notify the Representatives of the name and address of such new agent for
service of process.
28
29. The Company, the Guarantor and
each of the Underwriters hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.
30. This Agreement may be executed by
any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument.
31. Notwithstanding anything herein
to the contrary, the Company and the Guarantor are authorized to disclose to any persons the U.S. federal and state income tax treatment and tax structure of the potential transaction and all materials of any kind (including tax opinions and other
tax analyses) provided to the Company or the Guarantor relating to that treatment and structure, without the Underwriters imposing any limitation of any kind. However, any information relating to the tax treatment and tax structure shall remain
confidential (and the foregoing sentence shall not apply) to the extent necessary to enable any person to comply with securities laws. For this purpose, “tax structure” is limited to any facts that may be relevant to that treatment.
29
If the foregoing is in accordance with your understanding, please sign and return to us four counterparts hereof, and upon the
acceptance hereof by you this letter and such acceptance hereof shall constitute a binding agreement between each of the Underwriters, the Company and the Guarantor.
|
Very truly yours,
|
||
|
BECTON ▇▇▇▇▇▇▇▇▇ EURO FINANCE S.À ▇.▇.
|
||
|
By:
|
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
|
||
|
Title: Class A Manager
|
||
|
BECTON, ▇▇▇▇▇▇▇▇▇ AND COMPANY
|
||
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By:
|
/s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
|
||
|
Title: Executive Vice President, Chief Financial Officer and Chief Administrative Officer
|
||
[Signature Page to Underwriting Agreement]
Accepted as of the date hereof:
|
BARCLAYS BANK PLC
|
||
|
By:
|
/s/ ▇▇▇▇ ▇▇▇▇▇
|
|
|
Name: ▇▇▇▇ ▇▇▇▇▇
|
||
|
Title: Legal UK & Europe
|
||
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▇▇▇▇▇▇▇ SACHS INTERNATIONAL
|
||
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By:
|
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
|
|
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Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
|
||
|
Title: Managing Director
|
||
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▇.▇. ▇▇▇▇▇▇ SECURITIES PLC
|
||
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By:
|
/s/ ▇▇▇▇ ▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇ ▇▇▇▇▇▇
|
||
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Title: Managing Director
|
||
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ACADEMY SECURITIES, INC.
|
||
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By:
|
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
|
||
|
Title: Chief Financial Officer and Chief Operations Officer
|
||
[Signature Page to Underwriting Agreement]
|
BNY MELLON CAPITAL MARKETS, LLC
|
||
|
By:
|
/s/ ▇▇▇ ▇▇▇▇▇▇▇
|
|
|
Name: ▇▇▇ ▇▇▇▇▇▇▇
|
||
|
Title: Managing Director
|
||
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ING BANK N.V., BELGIAN BRANCH
|
||
|
By:
|
/s/ Franҫois Opergelt
|
|
|
Name: Franҫois Opergelt
|
||
|
Title: Managing Director, DCM Originaion
|
||
|
By:
|
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
||
|
Title: Managing Director, Head High Grade Syndicate
|
||
|
LOOP CAPITAL MARKETS LLC
|
||
|
By:
|
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
||
|
Title: Partner
|
||
|
PNC CAPITAL MARKETS LLC
|
||
|
By:
|
/s/ ▇▇▇▇▇▇. ▇. ▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇. ▇. ▇▇▇▇▇▇
|
||
|
Title: Managing Director
|
||
[Signature Page to Underwriting Agreement]
|
STANDARD CHARTERED BANK
|
||
|
By:
|
/s/ ▇▇▇▇▇ ▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇ ▇▇▇▇▇
|
||
|
Title: Managing Director
|
||
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THE TORONTO-DOMINION BANK
|
||
|
By:
|
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
||
|
Title: Director, Transaction Management Group
|
||
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U.S. BANCORP INVESTMENTS, INC.
|
||
|
By:
|
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
|
||
|
Title: Managing Director
|
||
|
THE ▇▇▇▇▇▇▇▇ CAPITAL GROUP, L.P.
|
||
|
By:
|
/s/_Davis ▇▇▇▇▇▇▇▇▇▇▇
|
|
|
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
|
||
|
Title: Principal
|
||
[Signature Page to Underwriting Agreement]
SCHEDULE I
|
Underwriter
|
Principal
Amount of
2021 Notes to
be Purchased
|
Principal
Amount of
2023 Notes to
be Purchased
|
Principal
Amount of
2026 Notes to
be Purchased
|
|
Barclays Bank PLC
|
€168,000,000
|
€224,000,000
|
€168,000,000
|
|
▇▇▇▇▇▇▇ ▇▇▇▇▇ International
|
168,000,000
|
224,000,000
|
168,000,000
|
|
▇.▇. ▇▇▇▇▇▇ Securities plc
|
168,000,000
|
224,000,000
|
168,000,000
|
|
Academy Securities, Inc.
|
12,000,000
|
16,000,000
|
12,000,000
|
|
BNY Mellon Capital Markets, LLC
|
9,000,000
|
12,000,000
|
9,000,000
|
|
ING Bank N.V., Belgian Branch
|
9,000,000
|
12,000,000
|
9,000,000
|
|
Loop Capital Markets LLC
|
9,000,000
|
12,000,000
|
9,000,000
|
|
PNC Capital Markets LLC
|
12,000,000
|
16,000,000
|
12,000,000
|
|
Standard Chartered Bank
|
12,000,000
|
16,000,000
|
12,000,000
|
|
The Toronto-Dominion Bank
|
12,000,000
|
16,000,000
|
12,000,000
|
|
U.S. Bancorp Investments, Inc.
|
12,000,000
|
16,000,000
|
12,000,000
|
|
The ▇▇▇▇▇▇▇▇ Capital Group, L.P.
|
9,000,000
|
12,000,000
|
9,000,000
|
|
Total
|
€600,000,000
|
€800,000,000
|
€600,000,000
|
SCHEDULE II
(a) Issuer Free Writing Prospectuses not included in the
Pricing Disclosure Package:
| · |
Electronic Investor Presentation of Becton, ▇▇▇▇▇▇▇▇▇ and Company dated May 2019
|
| (b) |
Additional Documents Incorporated by Reference: None
|
ANNEX I(a)
CONTENT OF LETTER TO BE PROVIDED BY ▇▇▇▇ ▇▇▇▇▇▇▇, SENIOR VICE PRESIDENT CORPORATE SECRETARY AND ASSOCIATE GENERAL COUNSEL FOR BECTON,
▇▇▇▇▇▇▇▇▇ AND COMPANY
A-I(a)-1
ANNEX I(b)
CONTENT OF LETTERS TO BE PROVIDED BY SKADDEN, ARPS, SLATE, ▇▇▇▇▇▇▇ & ▇▇▇▇ LLP, SPECIAL UNITED STATES COUNSEL FOR BECTON, ▇▇▇▇▇▇▇▇▇
AND COMPANY AND BECTON ▇▇▇▇▇▇▇▇▇ EURO FINANCE S.À ▇.▇.
A-I(b)-1
ANNEX I(C)
CONTENT OF LETTERS TO BE PROVIDED BY LOYENS & LOEFF LUXEMBOURG S.À ▇.▇., SPECIAL COUNSEL FOR BECTON ▇▇▇▇▇▇▇▇▇ EURO FINANCE S.À ▇.▇.
A-I(c)-1
ANNEX II
DESCRIPTION OF COMFORT LETTER OF ERNST & YOUNG LLP
A-II-1