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Danaher Pays Down Facility Borrowings Tied to Beckman Buy

NEW YORK (GenomeWeb News) – Danaher disclosed after the close of the market yesterday that it has reduced its commitments under a $3 billion unsecured revolving credit facility to zero and has terminated the facility, effective as of Dec. 29, 2011.

The Washington, DC-based conglomerate had inked the credit facility in June to help pay for its $6.8 billion acquisition of Beckman Coulter.

Danaher had reduced its commitments under the facility to $2.2 billion in late June, to $1.5 billion in July, and to $1 billion as of Oct. 1.

The firm said in a filing with the US Securities and Exchange Commission that there are now no outstanding borrowings under the facility and the termination does not trigger any termination penalties.

Last week, Danaher said that it expects its full-year 2012 EPS from continuing operations to be between $3.20 and $3.35 with core revenue growth from continuing operations of between 2 percent and 5 percent.

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