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Danaher Enters Into $10B Loan Agreements

NEW YORK – Danaher said in a regulatory filing on Thursday it has replaced its current credit facility with an amended $5 billion revolving credit facility agreement.

The Washington, DC-based company also announced it has entered into a new $5 billion revolving credit facility. 

The amended credit facility, disclosed in a document filed with the US Securities and Exchange Commission, replaces the company’s previous $4 billion unsecured revolving credit facility. 

The amended loan expires on Aug. 27, 2024, but could be extended another year at Danaher’s request. 

In addition, the company can request up to five increases of $2.5 billion total.

The firm also announced a new $5 billion revolving credit facility, which expires Aug. 25, 2020. Danaher can choose to pay a .75 percent fee and convert the outstanding loan to a term loan payable a year later.

Bank of America was the administrative agent for both loans.

Danaher said it intends to use the loans to add liquidity support for its expanded US and European commercial paper programs and for general corporate purposes. Proceeds from the commercial paper notes will be used for Danaher’s planned $21.4 billion acquisition of GE Life Sciences’ Biopharma business.

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