Dover will raise $800 million through a sale of senior unsecured notes in two parts. The first tranche of $450 million notes, which carry a coupon rate of 4.3%, are due to mature on March 1, 2021, while the second tranche of $350 million notes, which carry a coupon rate of 5.375%, are due to mature on March 1, 2041. 

The company will use part of the proceeds to repay commercial paper, including commercial paper issued to pay the $400 million of 6.50% notes, which matured Feb. 15, 2011. The industrial products manufacturer appointed Bank of America Merrill Lynch, Goldman Sachs and JP Morgan as the active joint book-running managers for the deal. 

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