Ecolab Completes $5.0 Billion Senior Notes Offering to Fund CoolIT Systems Acquisition

Ecolab Inc. has successfully completed a public offering of senior notes totaling $5.0 billion in aggregate principal amount. The net proceeds are primarily intended to finance the company's previously announced acquisition of Frigeo Holdings LLC ("CoolIT Systems"), with the remainder allocated for general corporate purposes, including potential debt repayment.

Key Details

• Offering Breakdown: The offering consists of four tranches: $1.2 billion of 4.600% notes due 2029, $900 million of 4.800% notes due 2031, $1.5 billion of 5.150% notes due 2033, and $1.4 billion of 5.350% notes due 2036.
• Use of Proceeds: The primary use of the net proceeds is to fund the acquisition of CoolIT Systems. Any remaining funds may be used for general corporate purposes, which can include repaying commercial paper or other existing indebtedness.
• Special Mandatory Redemption: The notes due in 2029, 2031, and 2033 are subject to a special mandatory redemption at 101% of the principal amount if the CoolIT Systems acquisition is not completed by September 16, 2026 (or a later extended date as per the merger agreement), or if the merger agreement is terminated.