Danaher Announces Pricing Of Senior Notes Offering

Rhea-AI Summary

Danaher Corporation (NYSE: DHR) has priced an offering of $1 billion in 2.800% senior notes due 2051, with an offering price set at 99.396% of the principal amount. The expected net proceeds are approximately $984 million, intended for redeeming all outstanding 2.500% senior notes due 2025, refinancing debt, working capital, and other corporate purposes. The offering is anticipated to close on December 10, 2021, subject to customary conditions. This move is part of Danaher's strategy to manage its debt efficiently.

Positive

• Issuing $1 billion in senior notes secures funds for strategic refinancing.
• Expected net proceeds of approximately $984 million bolster financial flexibility.

Negative

• Redemption of existing 2.500% senior notes indicates potential financial strain.
• Market conditions may affect the successful closure of the offering on December 10.

WASHINGTON, Dec. 1, 2021 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) ("Danaher") announced today that it has priced an offering of $1,000,000,000 principal amount of 2.800% senior notes due 2051 at an offering price of 99.396% of the principal amount (the "senior notes").

Danaher estimates that the net proceeds from the sale of the senior notes in this offering will be approximately $984 million, after deducting the underwriting discounts and estimated offering expenses payable by Danaher. Danaher intends to use the net proceeds of this offering to redeem all of the outstanding 2.500% Senior Notes due 2025 (the "2025 notes") issued by DH Europe Finance S.à r.l., Danaher's wholly-owned subsidiary, and for general corporate purposes, which may include, without limitation and in Danaher's sole discretion, refinancing of outstanding indebtedness, working capital, capital expenditures and satisfaction of other obligations. The offering is expected to close on December 10, 2021, 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 BofA Securities, Inc., toll-free at 1-800-294-1322, Citigroup Global Markets Inc., toll-free at 1-800-831-9146, Deutsche Bank Securities Inc., toll-free at 1-800-503-4611, MUFG Securities Americas Inc., toll-free at 1-877-649-6848 or Santander Investment Securities Inc., toll-free at 1-855-403-3636.

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 69,000 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, the redemption of the 2025 notes 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, developments and business decisions 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 2020 Annual Report on Form 10-K and Danaher's Quarterly Report on Form 10-Q for the third quarter of 2021. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, 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.

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SOURCE Danaher Corporation

FAQ

What is Danaher Corporation's recent senior notes offering?

Danaher Corporation has priced a $1 billion offering of 2.800% senior notes due 2051, with an expected net proceeds of approximately $984 million.

What will the proceeds from Danaher's senior notes offering be used for?

The proceeds will be used to redeem outstanding 2.500% senior notes due 2025 and for general corporate purposes, including refinancing debt and working capital.

When is the closing date for Danaher's senior notes offering?

The offering is expected to close on December 10, 2021, subject to customary closing conditions.

What is the significance of Danaher's senior notes offering for investors?

The offering may impact Danaher's financial structure, as it aims to refinance existing debt, potentially affecting future cash flows and profitability.