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credit facility

By a GenomeWeb staff reporter
NEW YORK (GenomeWeb News) – Danaher reduced its commitments on a credit facility to $1 billion, the conglomerate disclosed after the close of the market on Wednesday.

The company said it had borrowed $455 million under the new credit agreement, of which $435 million was used to pay the outstanding amounts from a previous agreement.

In an SEC document, Danaher disclosed it also has reduced its commitments on a 364-day credit facility it entered into in connection with its purchase of Beckman Coulter, while it terminated another existing credit facility.

The company has entered a bridge credit agreement for $2 billion and a revolving credit agreement for up to $1 billion.

The credit facility consists of a term loan of up to $20 million and a $10 million revolving line of credit, which will be used to purchase capital equipment and expand laboratory capacity.

The molecular diagnostics firm intends to pursue additional disease targets with its AlloMap technology.

The firm signed an agreement for a $15 million credit line and term loans totaling $6 million.

The firm has signed a $500 million credit facility, which it said will be used to provide working capital and fund general corporate purposes.

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