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ECOLAB INC. 8-K Report, Agreement Terminated (Dec 9, 2004)

Reports
Material Agreements·Other Events·Exhibits & Filings
Filing Date
Filed December 9, 2004
Period End
December 8, 2004
Security
ECL
In the record · 2016–202610-K1110-Q328-K144

ECL filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 144 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Sep ’16Sep ’16
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Deal closed8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed December 9, 2004. Cited figures are marked; the original filing is the authoritative source.

Ecolab Inc. (ECL) filed an 8-K on December 9, 2004, primarily to report the termination of its Australian Dollar (A$) 200 Million Commercial Paper and Medium Term Note Program by its subsidiary, Ecolab Finance Pty.

The termination is due to the program no longer being utilized, with all outstanding borrowings repaid. This action does not impact Ecolab's other global commercial paper programs, specifically its U.S.$450a Million Commercial Program and U.S.$200 Million Euro-Commercial Paper Program, which remain in place.

Additionally, the filing announced a favorable development for shareholders: an increased quarterly cash dividend to $0.0875b per share and authorization for the repurchase of up to 10,000,000 additional shares of common stock. These capital allocation actions signal management's confidence in the company's financial health and commitment to returning value to shareholders.

02—Key points

Key Highlights

  1. Ecolab Finance Pty, an Australian subsidiary, voluntarily terminated its A$200 Million Commercial Paper and Medium Term Note Program as it is no longer being used.
  2. All outstanding borrowings under the terminated Australian program have been repaid.
  3. Ecolab's U.S.$450 Million Commercial Program and U.S.$200 Million Euro-Commercial Paper Program remain active.
  4. The termination of the Australian program and related liquidity support agreements (Addenda to the Credit Agreement) did not result in any termination penalties for Ecolab.
  5. The company announced an increased quarterly cash dividend of $0.0875 per share, payable January 18, 2005.
  6. Ecolab's Board of Directors authorized the repurchase of up to 10,000,000 additional shares of common stock.

03—Questions

Frequently Asked Questions

  1. Why is Ecolab terminating its Australian Commercial Paper and Medium Term Note Program?

    Ecolab is terminating the program because it is no longer being utilized. All outstanding borrowings have been repaid, and the facility is no longer needed for general funding purposes for its Australian subsidiary, Ecolab Finance Pty.

  2. Does this termination affect Ecolab's ability to access funding?

    No, this termination is specific to the Australian dollar program. Ecolab's other significant commercial paper programs, the U.S.$450 Million Commercial Program and the U.S.$200 Million Euro-Commercial Paper Program, remain in place and available for use.

  3. Are there any financial penalties associated with terminating the Australian program?

    The filing explicitly states that Ecolab, its subsidiaries, and associated parties have not incurred any termination penalties in connection with the termination of the Australia CP/MTN Program or the related liquidity support agreements.

  4. What is the significance of the increased dividend and share repurchase authorization for investors?

    The increased dividend and the substantial share repurchase authorization signal strong confidence from Ecolab's management in the company's financial performance and future prospects. These actions indicate a commitment to returning capital to shareholders, which can be viewed as a positive sign of financial health and a potential driver of shareholder value.

04—Continue

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