Market Chatter: Citigroup Reaches Out to Lenders to Finance Ecolab's CoolIT Deal

MT Newswires Live03-31

Citigroup (C) is reaching out to other lenders to join a nearly $4.8 billion financing for Ecolab's (ECL) purchase of CoolIT Systems, Bloomberg reported Monday, citing people familiar with the matter.

The deal will possibly involve selling investment-grade bonds, according to the report.

Ecolab announced in March that it has entered into a definitive deal to acquire CoolIT Systems for approximately $4.75 billion in cash.

Citigroup and Ecolab did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 107.33, Change: -0.05, Percent Change: -0.05

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