Ecolab Launches 5-Part Bond Sale to Fund $4.75 Billion CoolIT Acquisition
Updated
Updated · Bloomberg · May 19
Ecolab Launches 5-Part Bond Sale to Fund $4.75 Billion CoolIT Acquisition
1 articles · Updated · Bloomberg · May 19
Ecolab tapped the US investment-grade market with a bond offering in as many as five tranches to help pay for its $4.75 billion purchase of CoolIT Systems.
The longest piece — a 10-year note — is being marketed at about 0.95 percentage point above Treasuries, according to a person familiar with the terms.
The financing ties directly to Ecolab’s effort to complete the CoolIT deal, using debt markets to fund one of the company’s largest recent acquisitions.
Can Ecolab's $4.75B bet on today's cooling tech survive tomorrow's AI hardware?
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