By Andrea Heisinger
Omaha, Dec. 6 - Danaher Corp. priced $500 million in 5.625% 10-year senior notes Thursday to yield 170 basis points more than Treasuries, market sources said.
The notes priced in line with price talk that was in the 170 bps area.
The notes (A2/A+) priced at 99.391 to yield 5.704%. They have a make-whole call at Treasuries plus 25 bps.
There is a 101% change-of-control put.
Bookrunners were Merrill Lynch, Pierce, Fenner & Smith Inc., J.P. Morgan Securities Inc. and UBS Investment Bank.
Co-managers were Banc of America Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Lazard Capital Markets LLC and Wachovia Capital Markets, LLC.
Proceeds will be used to repay a portion of outstanding commercial paper and for general corporate purposes.
The professional, medical, industrial and consumer products company is based in Washington, D.C.
| Issuer: | Danaher Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2018
|
| Bookrunners: | Merrill Lynch, Pierce, Fenner & Smith Inc., J.P. Morgan Securities Inc., UBS Investment Bank
|
| Co-managers: | Banc of America Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Lazard Capital Markets LLC, Wachovia Capital Markets, LLC.
|
| Coupon: | 5.625%
|
| Price: | 99.391
|
| Yield: | 5.704%
|
| Spread: | Treasuries plus 170 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Dec. 6
|
| Settlement date: | Dec. 11
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Price talk: | 170 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
