01—Abstract
Summary
Summary of the 8-K filed February 7, 2002. Cited figures are marked; the original filing is the authoritative source.
Ecolab Inc. (ECL) filed an 8-K report on February 7, 2002, announcing the successful placement of Euro 300,000,000 aggregate principal amount of 5.375%a Notes due 2007.
This offering was conducted privately, as the securities were not registered under the Securities Act of 1933. The primary purpose of this debt issuance was to refinance existing company debt.
This move indicates Ecolab's proactive approach to managing its capital structure and potentially lowering its overall cost of borrowing. Investors should note that the use of proceeds is explicitly for debt refinancing, suggesting a focus on optimizing the balance sheet rather than funding immediate operational expansion or acquisitions.
02—Key points
Key Highlights
- Ecolab Inc. closed on the placement of Euro 300,000,000 in 5.375% Notes due 2007.
- The notes carry a fixed interest rate of 5.375% and mature in 2007.
- The offering was a private placement and the securities were not registered under the Securities Act of 1933.
- Proceeds from the issuance will be used to refinance existing debt.
- This action suggests a strategy to optimize Ecolab's debt structure and potentially reduce interest expenses.
- The filing includes a News Release dated February 7, 2002, as an exhibit.
03—Questions
Frequently Asked Questions
What is the total principal amount of the notes issued?
Ecolab Inc. issued Euro 300,000,000 in aggregate principal amount of notes.
What is the interest rate and maturity date of these new notes?
The notes have a fixed interest rate of 5.375% and are due in 2007.
How will Ecolab use the proceeds from this note issuance?
The net proceeds from the offering will be used to refinance existing debt of the Company.
Are these notes being offered to the public in the United States?
No, the offered securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.
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