Danaher Corp (DHR)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	HLTH	PRCD	DHR	Danaher Corp	€3,000		4	USOA	Apr 22, 2026

Tranche #1Danaher Corp

currency

EUR

size (m)

500.000

maturity

Apr 29, 2028

type

Floating

tenor

2.000

call

registration

SEC Registered

benchmark

3mEu

ranking

Sr. Unsecured

moody's

s&p

A-

fitch

re-open/tap

ipt

3mEu+60 area

ipt-pxd

-22

guidance

3mEu+38#

spread

coupon

3mEu+38

spread set

price

100.00000

yield

book size (m)

1,500

peak book (m)

2,000

x-covered

book attrition

-25.00%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

1,500

peak book (m)

2,000

x-covered

book attrition

-25.00%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche #2Danaher Corp

currency

EUR

size (m)

750.000

maturity

Apr 29, 2030

type

Fixed

tenor

4.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

A-

fitch

re-open/tap

ipt

MS+80 area

ipt-pxd

-30

guidance

MS+50#

spread

coupon

3.25%

spread set

price

99.93400

yield

3.268%

book size (m)

3,200

peak book (m)

3,500

x-covered

4.27

book attrition

-8.57%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

3,200

peak book (m)

3,500

x-covered

4.27

book attrition

-8.57%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche #3Danaher Corp

currency

EUR

size (m)

750.000

maturity

Apr 29, 2034

type

Fixed

tenor

8.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

A-

fitch

re-open/tap

ipt

MS+100 area

ipt-pxd

-30

guidance

MS+70#

spread

coupon

3.625%

spread set

price

99.91800

yield

3.637%

book size (m)

2,000

peak book (m)

2,500

x-covered

2.67

book attrition

-20.00%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

2,000

peak book (m)

2,500

x-covered

2.67

book attrition

-20.00%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche #4Danaher Corp

currency

EUR

size (m)

1,000.000

maturity

Apr 29, 2038

type

Fixed

tenor

12.000

call

registration

SEC Registered

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

A-

fitch

re-open/tap

ipt

MS+120-125

ipt-pxd

-32.5

guidance

MS+90#

spread

coupon

4.00%

spread set

price

99.95300

yield

4.005%

book size (m)

2,500

peak book (m)

3,000

x-covered

2.5

book attrition

-16.67%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

2,500

peak book (m)

3,000

x-covered

2.5

book attrition

-16.67%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 1500; First Pay: 2026-07-29; Registration: SEC Registered; Comments: EUR500m 2yr frn cpn 3mEu+38 at 100. Spread: 3mEu+38bps. CoC: 101%. LEI: S4BKK9OTCEWQ3YHPFM11; Book size: 3200; First Pay: 2027-04-29; Registration: SEC Registered; Comments: EUR750m 4yr fxd cpn 3.25% at 99.934, yld 3.268%. Spread: MS+50bps. 63.3bps vs OBL 2.4 04/18/30 @ 99.12 HR: 99%. Par Call: 1m. MWC: B+10. CoC: 101%. SMR: 101%. LEI: S4BKK9OTCEWQ3YHPFM11; Book size: 2000; First Pay: 2027-04-29; Registration: SEC Registered; Comments: EUR750m 8yr fxd cpn 3.625% at 99.918, yld 3.637%. Spread: MS+70bps. 75.3bps vs DBR 2.2 02/15/34 @ 95.27 HR: 101%. Par Call: 3m. MWC: B+15. CoC: 101%. SMR: 101%. LEI: S4BKK9OTCEWQ3YHPFM11; Book size: 2500; First Pay: 2027-04-29; Registration: SEC Registered; Comments: EUR1bn 12yr fxd cpn 4.00% at 99.953, yld 4.005%. Spread: MS+90bps. 94.7bps vs DBR 4 01/04/37 @ 108.47 HR: 98%. Par Call: 3m. MWC: B+15. CoC: 101%. SMR: 101%. LEI: S4BKK9OTCEWQ3YHPFM11;

Deal Comments

UPDATE: Spread Set at 2yr: 3mEu+38; 4yr: MS+50; 8yr: MS+70; 10yr: MS+90

Use of Proceeds

Fund Masimo Acquisition and GCP

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Explore all other Commentary & Deal Flow

	PRICED: Danaher €3bn 2yr FRN, 4yr, 8yr & 12yr Sr Unsec; 3mE+38, MS+50, MS+70 & MS+90	Apr 22, 2026
	ALLOCATIONS OUT: Danaher €3bn 2yr FRN, 4yr, 8yr & 12yr Sr Unsec; 3mE+38, MS+50, MS+70 & MS+90	Apr 22, 2026
	LAUNCHED: Danaher €3bn 2yr FRN, 4yr, 8yr & 12yr Sr Unsec; 3mE+38, MS+50, MS+70 & MS+90	Apr 22, 2026
	UPDATE: Danaher €3bn exp 2yr FRN, 4yr, 8yr & 12yr Sr Unsec; Spreads Set 3mE+38#, MS+50#, MS+70# & MS+90#	Apr 22, 2026
	NEW ISSUE: Danaher Corporation € bmk 2yr FRN, 4yr, 8yr & 12yr Sr Unsec; 3mE+60a, MS+80a, MS+100a & MS+120/125	Apr 22, 2026