Danaher raises €850m with unusual sequence of price tightening
Danaher Corp, the US healthcare technology group, issued a €850m dual tranche bond on Monday. The latest Reverse Yankee issuer found strong demand for both tranches, resulting in minimal new issue concessions.
Bank of America Merrill Lynch, BNP Paribas and Deutsche Bank led the €250m five year FRN and 10 year fixed rate bond, which was launched as a €500m note and increased to €600m.
The deal was issued to help repay Danaher’s €500m FRN that expires on June 30, and
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