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ECOLAB INC. — Capital/Financing Update 2015
Jul 1, 2015
29912_rns_2015-07-01_21b26835-6f8e-485b-a5ae-75112281d348.zip
Capital/Financing Update
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FWP 1 a15-14642_3fwp.htm FWP
Supplementing the Preliminary Prospectus Supplement dated July 1, 2015 (To Prospectus dated January 12, 2015) Filed Pursuant to Rule 433 Registration No. 333-201445
*Ecolab Inc.*
*575,000,000 2.625% Notes due 2025*
**Pricing Term Sheet****
*July 1, 2015*
| Issuer: | Ecolab Inc. |
|---|---|
| Principal Amount: | 575,000,000 |
| Type of Offering: | SEC registered (No. 333-201445) |
| Trade Date: | July 1, 2015 |
| Settlement Date: | July 8, 2015 (T+5) |
| Anticipated Ratings:* | Baa1 (stable outlook) by Moodys Investors Service, Inc. BBB+ (positive outlook) by Standard & Poors Ratings Services |
| Listing: | Ecolab Inc. intends to apply to list the notes on The New York Stock Exchange |
| Maturity Date: | July 8, 2025 |
| Coupon: | 2.625% |
| Interest Payment Dates: | Annually on July 8, commencing July 8, 2016 |
| Price to Public: | 99.705% |
| Spread to Benchmark Bund: | +182.6 bps |
| Benchmark Bund: | DBR 0.5% due February 15, 2025 |
| Benchmark Bund Price and Yield: | 96.93; 0.833% |
| Spread to Mid Swaps: | +145 bps |
| Mid Swaps Yield: | 1.209% |
| Yield to Maturity: | 2.659% |
| Day Count Convention: | ACTUAL/ACTUAL (ICMA) |
| Stabilization: | Stabilization/FCA |
| Make-Whole Call: | DBR + 30 bps |
| CUSIP/Common Code/ISIN: | 278865 AS9/ 125543375/XS1255433754 |
| Joint Book-Running Managers: | Merrill Lynch International Credit Suisse Securities (Europe) Limited |
| Passive Book-Runner | SMBC Nikko Capital Markets Limited |
| Co-Managers: | Mizuho International plc UniCredit Bank AG |
* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.**
*The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.*
*You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Merrill Lynch International* toll-free at (800) 294-1322 or Credit Suisse Securities (Europe) Limited at (800) 221-1037.
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