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Nalco tenders for $465 million 8 7/8% notes, €200 million 9% notes
By Angela McDaniels
Tacoma, Wash., Dec. 8 - Nalco Co. began tender offers for its $465 million of 8 7/8% senior subordinated notes due 2013 and €200 million of 9% senior subordinated notes due 2013, according to a company news release.
The company is offering $1,017.79 for each $1,000 principal amount of 8 7/8% notes and €1,018.00 for each €1,000 principal amount of 9% notes. These amounts include an early tender premium of $15.00 or €15.00 for each note tendered by 5 p.m. ET on Dec. 20, the early tender date.
Holders will also receive accrued interest up to but excluding the payment date.
The company may elect to accept for purchase prior to the expiration all notes tendered by the early tender date.
The tender offers will expire at midnight ET on Jan. 5.
The consummation of the tender offers is not conditioned on any minimum amount of notes being tendered, but it is conditioned on the satisfaction or waiver of some other conditions.
The dealer managers are Goldman Sachs & Co. and Goldman Sachs International (call either at 800 828-3182). The information agent is D.F. King & Co., Inc. (212 269-5550 for banks and brokers, others call 800 967-4607).
Nalco is a water treatment and process improvement company based in Naperville, Ill.
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