ECOLAB INC. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Ecolab Inc. on January 23, 2001. The report details a significant capital market transaction involving the issuance of debt securities under a previously effective Registration Statement on Form S-3.
Key Financial Metrics
- Debt Issuance: The Company entered into an agreement to sell $150,000,000 aggregate principal amount of debt securities.
- Instrument Details: 6.875% Notes due February 1, 2011.
- Underwriters: Credit Suisse First Boston Corporation, Chase Securities Inc., Banc of America Securities LLC, and Salomon Smith Barney Inc.
- Trustee: Bank One, National Association.
- Revenue, Profit, and Cash Flow: The filing text does not provide specific values for revenue, profit, cash flow, margins, or liquidity ratios for the reporting period.
Material Changes
The primary material change reported is the execution of an underwriting agreement and terms agreement on January 23, 2001, for the sale of the $150 million Notes. Additionally, the Company amended and restated its Indenture dated November 1, 1996, to facilitate this issuance. The filing also references a Multicurrency Credit Agreement amended and restated as of December 13, 2000.
Outlook, Risks, and Contingencies
The filing does not contain management commentary on future outlook, specific risk factors, or contingencies beyond the standard terms of the debt issuance. The transaction is executed pursuant to Rule 415 under the Securities Act of 1933, allowing for securities to be offered from time to time.
Investor Verification Checklist
- Verify the final closing date and net proceeds received from the $150,000,000 Notes issuance.
- Review the Amended and Restated Indenture (Exhibit 4A) for specific covenants and restrictions.
- Confirm the impact of the new debt on the Company's overall leverage and interest coverage ratios.
- Examine the Multicurrency Credit Agreement (Exhibit 10C) for any cross-default provisions or changes in borrowing capacity.