8-KOther EventsExhibits & Filings

DANAHER CORP /DE/ 8-K Report, Corporate Update (Mar 3, 2009)

Filed March 3, 2009For Securities:DHR

Summary

Danaher Corporation (DHR) announced on February 26, 2009, the execution of a purchase agreement to sell $750 million in aggregate principal amount of 5.40% senior notes due 2019. This public offering, conducted under a Form S-3 registration statement, is expected to yield net proceeds of approximately $744 million after accounting for underwriting discounts and expenses. The closing of this debt offering is anticipated on or around March 5, 2009, contingent upon standard closing conditions. This debt issuance represents a strategic move by Danaher to secure funding, likely to bolster its financial position or support operational initiatives during a challenging economic period. Investors should note that the terms of the notes are governed by an indenture dated December 11, 2007, and a supplemental indenture to be executed at closing. The filing also includes relevant exhibits such as the purchase agreement and legal opinions concerning the notes' validity.

Key Highlights

  • 1Danaher Corporation is issuing $750 million in aggregate principal amount of 5.40% senior notes due 2019.
  • 2The offering is being conducted as a public offering under a Form S-3 registration statement.
  • 3Net proceeds are estimated to be approximately $744 million, after underwriting discounts and expenses.
  • 4The closing of the offering is expected on or about March 5, 2009, subject to customary conditions.
  • 5The senior notes will be issued under an indenture dated December 11, 2007, with The Bank of New York Mellon Trust Company, N.A. as trustee.
  • 6The filing includes the Purchase Agreement and legal opinions regarding the notes.

Frequently Asked Questions

The filing does not explicitly state the purpose of the debt issuance. However, raising $750 million in senior notes typically provides companies with capital for general corporate purposes, such as funding operations, acquisitions, refinancing existing debt, or investing in strategic initiatives. Given the filing date in early 2009, it could also be a measure to strengthen liquidity during a period of economic uncertainty.

The senior notes will have a principal amount of $750 million, a coupon rate of 5.40%, and a maturity date in 2019. They will be governed by an indenture dated December 11, 2007, and a supplemental indenture to be dated around March 5, 2009, with The Bank of New York Mellon Trust Company, N.A. serving as trustee.

The offering of the senior notes is expected to close on or about March 5, 2009, provided that all customary closing conditions are met.

Danaher expects to receive net proceeds of approximately $744 million from the sale of these notes, after deducting the underwriting discount and other offering expenses.