Danaher Announces Pricing Of Senior Notes Offering

Rhea-AI Summary

Danaher Corporation (NYSE: DHR) announced the pricing of a $1 billion offering of senior notes with a 2.600% interest rate due in 2050. The offering price is 98.970% of the principal amount, with expected net proceeds of approximately $980 million after expenses. Funds will be used for general corporate purposes, including refinancing debt and capital expenditures. The offering is set to close on October 6, 2020, pending customary conditions.

Positive

• Net proceeds of approximately $980 million will bolster financial flexibility.
• Funds will support refinancing of outstanding debt.

Negative

• The offering may increase Danaher's overall debt burden.
• Potential dilution of shareholder value may occur if proceeds are used for acquisitions.

WASHINGTON, Sept. 29, 2020 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) ("Danaher") announced today that it has priced an offering of $1,000,000,000 principal amount of 2.600% senior notes due 2050 at an offering price of 98.970% 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 $980 million, after deducting the underwriting discounts and estimated offering expenses payable by Danaher. Danaher intends to use the net proceeds of this offering 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 October 6, 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 BofA Securities, Inc., toll-free at 1-800-294-1322, Barclays Capital Inc., toll-free at 1-888-603-5847, Goldman Sachs & Co. LLC, toll-free at 1-866-471-2526, Morgan Stanley & Co. LLC, toll-free at 1-877-821-7388 or Wells Fargo Securities, LLC, toll-free at 1-800-645-3751.

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 and Danaher's Quarterly Reports on Form 10-Q for each of the first and second quarters of 2020. 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.

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SOURCE Danaher Corporation

FAQ

What is the amount of Danaher's senior notes offering?

Danaher announced a senior notes offering of $1 billion.

What is the interest rate on Danaher's senior notes?

The senior notes have an interest rate of 2.600%.

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

The offering is expected to close on October 6, 2020.

How much net proceeds will Danaher receive from the offering?

Danaher estimates net proceeds of approximately $980 million.

What will Danaher use the proceeds from the senior notes for?

Proceeds will be used for general corporate purposes, including refinancing debt and capital expenditures.