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OFFON

ECOLAB INC.

(ECL)
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Ecolab Inc Enters into Term Credit Agreement with Various Financial Institutions

11/23/2021 | 04:31pm EST

On November 19, 2021, Ecolab Inc. entered into a term credit agreement with various financial institutions, as lenders, and JPMorgan Chase Bank, N.A., as administrative agent, providing for a $3.0 billion unsecured committed delayed draw term loan credit facility. Under the terms of the Credit Agreement, Ecolab may only use the proceeds of loans under the Credit Agreement to (a) pay a portion of the consideration for the previously announced acquisition of the shares of the subsidiaries and certain other affiliated entities of Purolite Corporation, a Delaware corporation (?Purolite?), and substantially all of Purolite?s assets used or held for use in connection with its filtration and purification resins business, pursuant to the Purchase Agreement, dated October 28, 2021, by and among Ecolab, Purolite, Stefan E. Brodie and Don B. Brodie, and Stefan E. Brodie, solely in his capacity as the representative of the sellers, and (b) to pay fees, costs and expenses incurred in connection with such acquisition and the transactions contemplated by the Credit Agreement. Rates for borrowing under the Credit Agreement are dependent on Ecolab?s credit ratings and are based, at Ecolab?s election, upon whether the borrowing is a Term SOFR Loan, Daily Simple SOFR Loan or a Base Rate Loan, each as defined in the Credit Agreement. Term SOFR Loans will bear interest at an adjusted forward-looking term rate based on the secured overnight financing rate (?SOFR?) as administered by CME Group Benchmark Administration Limited plus 0.10% plus an applicable margin ranging from 0.75% to 0.875%, depending on Ecolab?s credit ratings. Daily Simple SOFR Loans will bear interest at an adjusted backward-looking rate based on SOFR as administered by the Federal Reserve Bank of New York plus 0.10% plus an applicable margin ranging from 0.75% to 0.875%, depending on Ecolab?s credit ratings. Base Rate Loans will bear interest at a rate per annum equal to the greatest of (a) the prime rate, (b) the New York Federal Reserve Bank rate plus 1/2 of 1%, and (c) an adjusted term SOFR rate for a one-month interest period plus 1%. In addition, under the terms of the Credit Agreement, Ecolab agreed to pay the lenders a ticking fee during the Ticking Fee Accrual Period, as defined in the Credit Agreement. The ticking fee rate is either 0.06% or 0.08%, depending on Ecolab?s credit ratings.


ę S&P Capital IQ 2021
All news about ECOLAB INC.
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Analyst Recommendations on ECOLAB INC.
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Financials (USD)
Sales 2021 12 758 M - -
Net income 2021 1 219 M - -
Net Debt 2021 8 703 M - -
P/E ratio 2021 51,2x
Yield 2021 0,92%
Capitalization 61 907 M 61 907 M -
EV / Sales 2021 5,53x
EV / Sales 2022 4,98x
Nbr of Employees 44 000
Free-Float -
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Technical analysis trends ECOLAB INC.
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Income Statement Evolution
Consensus
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Buy
Mean consensus HOLD
Number of Analysts 22
Last Close Price 216,03 $
Average target price 237,82 $
Spread / Average Target 10,1%
EPS Revisions
Managers and Directors
Christophe Beck President, Chief Executive Officer & Director
Scott D. Kirkland Chief Financial Officer
Douglas M. Baker Chairman
Larry L. Berger Chief Technical Officer & Executive VP
Anil Arcalgud Chief Information Officer & Executive VP
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