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Danaher Prices €850M Senior Notes Offering

NEW YORK (GenomeWeb) – Danaher today said that its wholly owned subsidiary DH Europe Finance has priced an offering of €850 million ($947 million) in senior notes.

DH Europe is offering €250 million principal amount of floating rate senior notes due 2022 at an offering price of 100.147 percent of the principal amount. It also is offering €600 million principal amount of 1.2 percent senior notes due 2027 at an offering price of 99.682 percent of the principal amount.

Net proceeds are estimated to be around €845 million. Danaher said that about $560 million will go toward repaying all of the outstanding €500 million aggregate principal amount of Danaher International's Floating Rate Senior Notes due 2017, which mature on June 30, 2017. The remainder of the net proceeds will be used to repay outstanding commercial paper and for general corporate purposes.

The offering is expected to close on June 30.

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