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Danaher's European Subsidiary Prices €2.7B in Senior Notes

NEW YORK (GenomeWeb) – Danaher said yesterday that its DH Europe Finance subsidiary has priced an offering of €2.7 billion ($2.99 billion) in senior notes.

The firm said it is offering €500 million principal amount of floating rate senior notes due 2017; €600 million principal amount of 1 percent senior notes due 2019; €800 million principal amount of 1.7 percent senior notes due 2022; and €800 million principal amount of 2.5 percent senior notes due 2025.

Danaher said that it anticipates net proceeds of around €2.68 billion, and it expects to close the offering on July 8.

Proceeds from the offering will be used to pay a portion of the cost of acquiring Pall. Danaher announced last month a $13.8 billion deal to acquire the Port Washington, New York-based filtration, separation, and purification products maker.

Book-running managers for the offering include Deutsche Bank AG, London Branch; Merrill Lynch International; BNP Paribas; HSBC Securities (USA); and Morgan Stanley International.