Danaher Prices Reopening Of Euro-Denominated Senior Notes

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Apr 03, 2020, 16:45 ET

WASHINGTON, April 3, 2020 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) ("Danaher") announced today that it has priced a reopening of:

€150,000,000 principal amount of additional 1.700% senior notes due 2024 at an offering price of 100.298% of the principal amount, plus accrued interest from and including March 30, 2020 (upon closing of this notes offering, Danaher will have outstanding an aggregate of €900,000,000 principal amount of 1.700% senior notes due 2024);
€300,000,000 principal amount of additional 2.100% senior notes due 2026 at an offering price of 100.842% of the principal amount, plus accrued interest from and including March 30, 2020 (upon closing of this notes offering, Danaher will have outstanding an aggregate of €800,000,000 principal amount of 2.100% senior notes due 2026); and
€300,000,000 principal amount of additional 2.500% senior notes due 2030 at an offering price of 102.166% of the principal amount, plus accrued interest from and including March 30, 2020 (upon closing of this notes offering, Danaher will have outstanding an aggregate of €800,000,000 principal amount of 2.500% senior notes due 2030) (collectively, the "senior notes").

Each series of new senior notes will have the same terms, other than issue date and issue price, as the outstanding senior notes, which Danaher issued on March 30, 2020. They will also have the same ISIN and Common Code numbers and will trade interchangeably with each respective series of outstanding senior notes.

Danaher estimates that the net proceeds from the sale of the new senior notes in the reopening will be approximately €753.7 million, after deducting the underwriting discounts and estimated offering expenses payable by Danaher. Danaher anticipates using the net proceeds for general corporate purposes, which may include repayment of a portion of its outstanding commercial paper borrowings as they mature and/or repayment of amounts borrowed under its revolving credit facilities. The offering is expected to close on April 8, 2020, subject to customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission.

The offering of senior notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to the securities can be obtained by calling BNP Paribas, at 1-800-854-5674, Merrill Lynch International at 1-800-294-1322, Deutsche Bank AG, London Branch, at 1-800-503-4611, or J.P. Morgan Securities plc at +44-207-134-2468.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the senior notes or any other securities, nor shall there be any offer, solicitation or sale of any security mentioned in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT DANAHER

Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher's globally diverse team of approximately 67,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life's Potential.

FORWARD-LOOKING STATEMENTS

Statements in this release that are not strictly historical, including the statements regarding the offering of the senior notes, the anticipated use of proceeds and any other statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking statements" within the meaning of the federal securities laws. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in Danaher's SEC filings, including Danaher's 2019 Annual Report on Form 10-K. These forward-looking statements speak only as of the date of this release and Danaher does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.

SOURCE Danaher Corporation