Ecolab Announces Announces Extension of Exchange Offer for 2.750% Notes Due 2055

Rhea-AI Summary

Ecolab Inc. (NYSE:ECL) has extended its offer to exchange up to $684,751,000 in aggregate principal amount of its 2.750% Notes due 2055 until 11:59 p.m. New York City time on December 9, 2021. The exchange is for unregistered outstanding Original Notes, with 99.20% of the Original Notes, or $679,257,000, already tendered by the original deadline of December 7, 2021. The terms of the Exchange Notes are substantially identical to the Original Notes but are registered and unrestricted. This extension allows additional holders to participate in the exchange.

Positive

• 99.20% of Original Notes have been validly tendered, indicating strong investor interest in the exchange offer.

Negative

• None.

ST. PAUL, Minn.--(BUSINESS WIRE)-- Ecolab Inc. (“Ecolab”) (NYSE:ECL) today announced that it is extending to 11:59 p.m., New York City time, on December 9, 2021, its offer to exchange up to $684,751,000 in aggregate principal amount of its 2.750% Notes due 2055 (the “Exchange Notes”), which have been registered under the Securities Act of 1933 (the “Act”), for an equal aggregate principal amount of its unregistered outstanding 2.750% Notes due 2055 (the “Original Notes”) in order to allow holders to tender in the exchange offer. Except for the extension of the expiration date, all of the terms of the exchange offer remain as set forth in Ecolab’s prospectus dated November 8, 2021.

The Original Notes were issued on August 18, 2021 in a transaction exempt from registration under the Act. The terms of the Exchange Notes are substantially identical to the terms of the Original Notes, except that the Exchange Notes have been registered under the Act, are not subject to restrictions on transfer, and do not entitle their holders to registration rights or special interest. As of 11:59 p.m., New York City time, on December 7, 2021, which was the original expiration date of the exchange offer, $679,257,000 in principal amount of the outstanding Original Notes, representing 99.20% of the outstanding principal amount of the Original Notes, had been validly tendered in exchange for an equal aggregate principal amount of the Exchange Notes.

This news release is for informational purposes only and is not an offer to purchase any Original Notes or sell any Exchange Notes, or a solicitation of an offer to sell any Original Notes or purchase any Exchange Notes. The exchange offer was made only pursuant to a prospectus filed with the Securities and Exchange Commission (the “SEC”) as part of Ecolab’s Registration Statement on Form S-4 (File No. 333-260580). The Registration Statement was declared effective by the SEC on November 8, 2021.

(ECL-C)

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208005221/en/

Michael J. Monahan (651) 250-2809

Andrew C. Hedberg (651) 250-2185

Source: Ecolab Inc.

FAQ

What is Ecolab's exchange offer extension date?

Ecolab has extended its offer to December 9, 2021.

How much in Original Notes is Ecolab offering to exchange?

Ecolab is offering to exchange up to $684,751,000 in Original Notes.

What percentage of Original Notes were tendered by the original deadline?

99.20% of the Original Notes, or $679,257,000, were tendered.

What are the terms of Ecolab's Exchange Notes?

The Exchange Notes have terms that are substantially identical to the Original Notes, but they are registered and not subject to transfer restrictions.