Nalco said to seek $800 million loan for debt refinancing

Nalco Holding Co., the world's largest provider of industrial water-treatment services, is seeking $800 million in loans to refinance debt, according to a person familiar with the transaction.

The company is seeking a $700 million, seven-year term loan B-1 and a $100 million, six-year term loan C-1, said the person who declined to be identified because the terms are private. Proceeds will refinance two term loan B tranches that expire in November of this year and May 2016.

Deutsche Bank AG is arranging the financing for the Naperville-based company and will hold a call with potential lenders on Sept. 23 at 10 a.m. New York time, the person said. Lenders have until 12 p.m. on Sept. 29 to respond.

The company has $100.5 million outstanding under its $1.3 billion term loan B due November and $742.5 million outstanding under the $750 million tranche B due May 2016, according to data compiled by Bloomberg. The $273.9 million outstanding under the company's existing $300 million term loan C due May 2016 will remain outstanding, said the person.