Danaher Corporation DHR disclosed Friday that it would redeem all of its $500 million aggregate principal amount of 5.625 percent senior notes due 2018, $750 million aggregate principal amount of 5.40 percent senior notes due 2019 and $600 million aggregate principal amount of 3.900 percent senior notes due 2021.
Danaher said that in each case, the redemption price would be equal to the outstanding principal amount of such redeemed series of notes and a make-whole premium as specified in the applicable indenture, apart from accrued and unpaid interest.
The company indicated that it fixed August 15 as the redemption date for the notes. The company plans to fund the redemptions with the help of a part of the cash proceeds it received from Fortive Corp (previously traded FTV) in respect of the spinoff of Fortive in July.
The stock traded flat at $80.91 on Friday at time of writing.
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