ST. PAUL, Minn.--(BUSINESS WIRE)--
Ecolab Inc. announced today that its wholly-owned subsidiary, Nalco
Company, intends to redeem all of its outstanding senior notes,
including $500 million aggregate principal amount of 8.25% Senior Notes
due 2017, $750 million aggregate principal amount of 6.625% Senior Notes
due 2019 and €200 million aggregate principal amount of 6.875% Senior
Notes due 2019 (together the "Notes").
Nalco expects to redeem 35% of each series of Notes on January 8, 2012
and the remaining 65% of each series of Notes on January 10, 2012
(respectively, the "Redemption Date"). All interest on the Notes called
for redemption will cease to accrue on and after the Redemption Date.
Copies of the notice of redemption will be sent to all record holders by
The Bank of New York Mellon Trust Company, the trustee under each of the
indentures governing the Notes.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any of the notes or any other security.
With 2011 annualized sales of $11 billion and more than 38,000
employees, Ecolab Inc. (NYSE: ECL) is the global leader in water,
hygiene and energy technologies and services that provide and protect
clean water, safe food, abundant energy and healthy environments. Ecolab
delivers comprehensive programs and services to the food, energy,
healthcare, industrial and hospitality markets in more than 160
countries. More Ecolab news and information is available at www.ecolab.com.
This news release contains various "Forward-Looking Statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements concerning
redemption of the Nalco senior notes. These statements, which represent
Ecolab's expectations or beliefs concerning various future events, are
based on current expectations that involve a number of risks and
uncertainties that could cause actual results to differ materially from
those in such forward-looking statements. We caution that undue reliance
should not be placed on forward-looking statements, which speak only as
of the date made. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
More detailed information about risks and uncertainties that may affect
our operating results and business performance may be found in our and,
prior to December 1, 2011, Nalco Holding Company's filings with the
Securities and Exchange Commission, including under Item 1A of reports
filed on Form 10-K and Form 10-Q, and include the vitality of the
markets we serve; the impact of worldwide economic factors such as the
worldwide economy, credit markets, interest rates and foreign currency
risk fluctuations in raw material and delivered product costs; our
ability to develop competitive advantages through value, innovation and
customer support; restraints on pricing flexibility due to contractual
obligations; pressure on operations from consolidation of customers and
vendors; our ability to promptly and effectively integrate the
businesses of Ecolab and Nalco and to achieve the cost savings and
synergies we anticipate from the Nalco acquisition within the expected
time frame or at all; the Nalco acquisition may involve unexpected
costs, unexpected liabilities or unexpected delays; the ability to
acquire other complementary businesses and to effectively integrate such
businesses; the costs and effects of complying with laws and regulations
relating to the environment, including evolving climate change
standards, and to the manufacture, storage, distribution, sale and use
of our products, as well as to the conduct of our business generally,
including employment and labor laws; the occurrence of litigation or
claims; acts of war, terrorism or hostilities, natural or man-made
disasters, water shortages or severe weather conditions which impact our
markets; our ability to attract and retain high caliber management
talent; and other risks or uncertainties reported from time to time in
our filings with the Securities and Exchange Commission.
(ECL-A)
Ecolab Inc.
Michael J. Monahan, 651-293-2809
Source: Ecolab Inc.
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