updated 11/23/2010 2:15:49 PM ET 2010-11-23T19:15:49

NAPERVILLE, Ill., Nov. 23, 2010 (GLOBE NEWSWIRE) -- Nalco Company (NYSE:NLC) (the "Company") announced today that, pursuant to its previously announced solicitation of consents (the "Consent Solicitation") from holders of its outstanding 8¼% Senior Notes due 2017 (the "Notes"), it has received the requisite consents to amend the indenture relating to the Notes (the "Indenture") to permit the Company to (i) refinance the portion of its $465 million aggregate principal amount of 8⅞% senior subordinated notes due 2013 and €200 million aggregate principal amount of 9% senior subordinated notes due 2013 that the Company is not permitted to refinance with senior indebtedness until November 15, 2012 and (ii) modify the Restricted Payments provision contained in Section 4.04(b)(xviii) of the Indenture that currently permits the Company to make dividends to its parent company, Nalco Finance Holdings LLC to make payments of principal and interest on, and optionally redeem, its 9.0% senior discount notes (the "Senior Discount Notes"), subject to certain conditions, to clarify that a refinancing of the Senior Discount Notes may be effected pursuant to a cash tender, open market repurchases or other methods. The Consent Solicitation expires at 5:00 p.m., New York City time, on November 24, 2010 (the "Expiration Date").

The Company has received consents from holders of a majority in principal amount of Notes, voting as a single class. Accordingly, the Company has entered into a supplemental indenture reflecting the amendments described above, and intends to settle the Consent Solicitation promptly after the Expiration Date.

Any inquiries may be directed to the Information and Tabulation Agent, D.F. King & Co., Inc., at (800) 967-4607 (toll free). The Solicitation Agent for the Consent Solicitation is Goldman, Sachs & Co., at (212) 902-5183 (collect) or (800) 828-3182 (toll free).

This announcement is for information purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security. This announcement is also not a solicitation of consents with respect to the proposed amendments or any securities. No recommendation is being made as to whether holders of Notes should consent to the proposed amendments. The solicitation of consents is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable state or foreign securities or "blue sky" laws.

About Nalco

Nalco Company is the world's largest sustainability services company focused on industrial water, energy and air applications, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations.

Nalco is a member of the Dow Jones Sustainability Indexes. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion. For more information visit www.nalco.com .

Follow us on Twitter at www.twitter.com/Nalco_News and www.twitter.com/NalcoCompany.

The Nalco Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1135

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.79%
$30K home equity loan FICO 5.78%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com