Danaher reduces revolver commitments to zero, terminates facility

By Marisa Wong

Madison, Wis., Dec. 22 - Danaher Corp. delivered a notice on Dec. 21 to Morgan Stanley Senior Funding, Inc., as administrative agent, to reduce the commitments under its $3 billion 364-day revolving credit facility to zero and terminate the facility, according to an 8-K filing with the Securities and Exchange Commission.

The termination of the facility will be effective as of Dec. 29.

The company entered into the facility on June 17, 2011 in connection with its acquisition of Beckman Coulter, Inc. The company then reduced commitments under the revolver to $2.2 billion as of June 27, to $1.5 billion as of July 21 and to $1 billion as of Oct. 1.

There are no outstanding borrowings under the facility, and no early termination penalties have been triggered, according to the filing.

Morgan Stanley Senior Funding, Barclays Capital, Citigroup Global Markets Inc. and UBS Securities LLC were the joint lead arrangers and joint bookrunners for the facility.

Danaher is a Washington, D.C.-based manufacturer of professional instrumentation, industrial technologies and tools and components. Beckman Coulter is a biomedical testing company based in Fullerton, Calif.

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