Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
December 01 2016 - 4:57PM
Edgar (US Regulatory)
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Supplementing the Preliminary Prospectus
Supplement dated December 1, 2016
(To Prospectus dated January 12, 2015)
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Filed Pursuant to Rule 433
Registration No. 333-201445
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Ecolab Inc.
€575,000,000 1.000% Notes due 2024
Pricing Term Sheet
December 1
, 2016
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Issuer:
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Ecolab Inc.
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Principal Amount:
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€575,000,000
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Type of Offering:
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SEC registered (No. 333-201445)
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Trade Date:
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December 1, 2016
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Settlement Date:
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December 8, 2016 (T+5)
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Anticipated Ratings:*
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Baa1 (stable outlook) by Moody’s Investors Service, Inc.
A- (stable outlook) by Standard & Poor’s Ratings Services
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Listing:
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Ecolab Inc. intends to apply to list the notes on The New York Stock Exchange
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Maturity Date:
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January 15, 2024
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Coupon:
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1.000%
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Interest Payment Dates:
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Annually on January 15, commencing January 15, 2018 (long first coupon)
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Price to Public:
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99.191%
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Spread to Benchmark Bund:
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+128.6 bps
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Benchmark Bund:
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DBR 2.000% due August 15, 2023
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Benchmark Bund Price and Yield:
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114.60; -0.167%
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Spread to Mid Swaps:
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+75 bps
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Mid Swaps Yield:
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0.369%
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Yield to Maturity:
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1.119%
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Day Count Convention:
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ACTUAL/ACTUAL (ICMA)
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Stabilization:
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Stabilization/FCA
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Make-Whole Call:
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DBR+20 bps
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Par Call:
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On or after October 15, 2023
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CUSIP / Common Code / ISIN:
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278865 AX8 / 152985932 / XS1529859321
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Joint Book-Running Managers:
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J.P. Morgan Securities plc
Merrill Lynch International
MUFG Securities EMEA plc
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Senior Co-Manager:
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Citigroup Global Markets Limited
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Co-Managers:
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Mizuho International plc
UniCredit Bank AG
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* 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 J.P. Morgan Securities plc at +44-207-134-2468; Merrill Lynch International
at +44-207-995-3966 or MUFG Securities EMEA plc at +44-207-577-2206.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.
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