ST. PAUL, Minn.--(BUSINESS WIRE)--
Ecolab Inc. announced today it has completed its public offering of
$3.75 billion aggregate principal amount of senior notes.
The senior unsecured notes include:
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$500 million of 2.375% notes due 2014
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$1.25 billion of 3.0% notes due 2016
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$1.25 billion of 4.35% notes due 2021
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$750 million of 5.5% notes due 2041
Ecolab expects to use the net proceeds from the offering to repay
outstanding commercial paper borrowings, which were issued to finance a
portion of the cash requirements relating to the acquisition of Nalco
Holding Company, to refinance Nalco's outstanding senior notes, and for
general corporate purposes, including to repurchase shares of its common
stock.
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 the use
of the net proceeds of the senior notes offering, including the
repayment of other borrowings and share repurchases. 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-C)
Ecolab Inc.
Michael J. Monahan, 651-293-2809
Source: Ecolab Inc.
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