Summary
Danaher Corporation announced on March 30, 2020, the successful issuance of €1.75 billion in aggregate principal amount of senior notes across three tranches: €750 million maturing in 2024, €500 million in 2026, and €500 million in 2030. These notes carry coupon rates of 1.700%, 2.100%, and 2.500%, respectively. The offering was conducted under Danaher's existing shelf registration statement and was facilitated by an underwriting agreement with several major financial institutions. The company received net proceeds of approximately €1.733 billion after deducting underwriting discounts and offering expenses. Danaher intends to use these funds for general corporate purposes, with specific mention of potentially repaying outstanding commercial paper and amounts drawn under its revolving credit facility. The notes have been approved for listing on the New York Stock Exchange, providing liquidity for investors.
Key Highlights
- 1Danaher Corporation issued a total of €1.75 billion in senior notes across three tranches.
- 2The senior notes have varying maturities: 2024 (€750M), 2026 (€500M), and 2030 (€500M).
- 3Interest rates for the notes are 1.700% for 2024, 2.100% for 2026, and 2.500% for 2030.
- 4Net proceeds from the offering amounted to approximately €1.733 billion.
- 5Proceeds are earmarked for general corporate purposes, including potential repayment of commercial paper and revolving credit facility borrowings.
- 6All tranches of the notes have been approved for listing on the New York Stock Exchange (NYSE).
- 7The notes are unsecured and rank equally with Danaher's other unsecured and unsubordinated indebtedness.