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Danaher Enters Into New $1B Revolving Credit Facility

NEW YORK (GenomeWeb) – Danaher last week entered into a new $1.0 billion 364-day revolving credit facility, the firm disclosed after the close of the market on Monday.

In a document filed with the US Securities and Exchange Commission, the company said that it entered into the facility with Bank of America, as the administrative agent, and a syndicate of lenders.

The credit facility expires on March 22, 2019. Danaher may elect to convert any loans outstanding on the schedule termination date into loans that are due and payable one year following the scheduled termination date. If it does so, it will pay a fee of .75 percent of the principal amount of the loans then outstanding.

Danaher said it intends to use the credit facility to expand its US and European commercial paper programs and for corporate purposes, and to fund a portion of its planned purchase of Integrated DNA Technologies.