Ecolab reduces total commitments under credit agreement to $1 billion

By Marisa Wong

Madison, Wis., April 13 - Ecolab Inc. elected to reduce the total amount of commitments under its 364-day credit agreement dated Sept. 8, 2011 to $1 billion from $2 billion, according to an 8-K filing with the Securities and Exchange Commission.

The maximum amount of commercial paper that may be issued under Ecolab's U.S. commercial paper program will be correspondingly reduced to $2.5 billion from $3.5 billion.

Ecolab gave notice of the reductions on April 10, and they became effective as of April 13.

Bank of America, NA is the administrative agent for the credit agreement, and JPMorgan Chase Bank, NA, Sumitomo Mitsui Banking Corp. and the Bank of Tokyo-Mitsubishi UFJ, Ltd. are the co-syndication agents.

Ecolab is a cleaning and sanitizing company based in St. Paul, Minn.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.