Summary
Danaher Corporation (DHR) announced on June 20, 2011, its entry into a purchase agreement for a public offering of senior notes. The company plans to issue $300 million in Floating Rate Senior Notes due 2013, $400 million in 1.300% Senior Notes due 2014, $500 million in 2.300% Senior Notes due 2016, and $600 million in 3.900% Senior Notes due 2021. This debt offering totals $1.8 billion in aggregate principal amount. Danaher anticipates receiving approximately $1.79 billion in net proceeds from this offering after accounting for underwriting discounts and expenses. The proceeds are expected to bolster the company's liquidity and support its ongoing strategic initiatives, although the specific use of funds is not detailed in this filing. The offering is subject to customary closing conditions and was expected to close on June 23, 2011.
Key Highlights
- 1Danaher Corporation priced a public offering of $1.8 billion in senior notes across multiple tranches.
- 2The notes consist of $300 million Floating Rate Senior Notes due 2013.
- 3The offering includes $400 million in 1.300% Senior Notes due 2014.
- 4An additional $500 million in 2.300% Senior Notes due 2016 were issued.
- 5The largest tranche is $600 million in 3.900% Senior Notes due 2021.
- 6Net proceeds are estimated to be approximately $1.79 billion after fees and expenses.
- 7The offering was conducted under a previously filed registration statement (File No. 333-159060).