Ecolab Inc. priced $5 billion of investment-grade bonds to help finance its pending takeover of CoolIT Systems Inc.
The supplier of water and hygiene services was seeking to sell around $4 billion of notes, people familiar with the matter said earlier Tuesday.
The four-part transaction, after a floating-rate tranche was dropped during syndication, includes bonds maturing in three to 10 years, according to a separate person with knowledge of the matter, who also asked not to be identified as the details are private. The longest-tenored note will yield 0.73 percentage point above Treasuries, versus initial talk of about 0.95 ...
