Nalco completes refinancing deal

Naperville-based Nalco Holding Co. said Friday that its wholly owned subsidiary, Nalco Company, completed a $1.25 billion refinancing that replaces the majority of a term loan due in November of 2010 and, along with cash on hand, will be used to retire $475 million of its senior notes otherwise due in November 2011.

The refinancing includes $750 million in new term loans due in 2016 and $500 million of new senior notes due in 2017.

The arrangements also include a new five-year, $250 million revolving credit facility supplied by a consortium of seven banks, replacing the revolving credit facility that would otherwise have expired in November 2009.