Fortive to offer additional $200 million 4.3% 30-year notes in connection with spinoff

By Lisa Kerner

Charlotte, N.C., June 9 – Fortive Corp. plans to offer up to an additional $200 million of 4.3% senior notes due 2046, according to a company news release.

The securities are being sold in a private placement to qualified institutional buyers under Rule 144A.

On Monday, Fortive sold $2.3 billion of senior notes (Baa1/BBB) in four tranches in connection with its spinoff from Danaher Corp., which will guarantee the notes until the spinoff occurs.

All of the 2046 notes are expected to be issued on June 20.

Proceeds will be used to make payments to Danaher as consideration for the contribution of assets to Fortive by Danaher in connection with the separation and for general corporate purposes.

Fortive is an industrial growth company based in Everett, Wash.

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