EX-25.1 5 tm2034077d2_ex25-1.htm EXHIBIT 25.1

 

Exhibit (25.1)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

 

FORM T-1

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

 

___ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

A National Banking Association   94-1347393
(Jurisdiction of incorporation or   (I.R.S. Employer
organization if not a U.S. national   Identification Number)
bank)    

 

101 North Phillips Avenue    
Sioux Falls, South Dakota   57104
(Address of principal executive offices)   (Zip code)

 

Wells Fargo & Company
Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

 

ECOLAB INC.

(Exact name of obligor as specified in its charter)

 

                 Delaware  41-0231510
(State or other jurisdiction of  (I.R.S. Employer
incorporation or organization)  Identification No.)

 

1 Ecolab Place   
St. Paul, Minnesota  55102
(Address of principal executive offices)  (Zip code)

 

 

Debt Securities

(Title of the indenture securities)

 

 

 

 

 

 

Item 1.General information.  Furnish the following information as to the trustee:

 

(a)Name and address of each examining or supervising authority to which it is subject.

 

Comptroller of the Currency

Treasury Department

Washington, D.C.

 

Federal Deposit Insurance Corporation

Washington, D.C.

 

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

(b)Whether it is authorized to exercise corporate trust powers.

 

The trustee is authorized to exercise corporate trust powers.

 

Item 2.Affiliations with the obligor.  If the obligor is an affiliate of the trustee, describe each such affiliation.

 

None with respect to the trustee.

 

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

 

Item 15. Foreign Trustee.           Not applicable.

 

Item 16. List of exhibits.             List below all exhibits filed as a part of this statement of eligibility.

 

  Exhibit 1. A copy of the Articles of Association of the trustee as now in effect.*
     
  Exhibit 2. A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated November 1, 2019.*
     
  Exhibit 3. A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated November 1, 2019.*
     
  Exhibit 4. Copy of By-laws of the trustee as now in effect.*
     
  Exhibit 5. Not applicable.
     
  Exhibit 6. The consent of the trustee required by Section 321(b) of the Act.
     
  Exhibit 7. A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
     
  Exhibit 8. Not applicable.
     
  Exhibit 9. Not applicable.

 

*     Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25.1 to the Filing S-3ASR dated December 20, 2019 of file number 333-235649.

 

 

 

 

SIGNATURE

 

 

Pursuant to the requirements of the Trust Indenture Act of 1939 the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the city of Minneapolis, and State of Minnesota, on the 29th day of October, 2020.

 

 

 

 

 

  WELLS FARGO BANK, NATIONAL ASSOCIATION
   
   
  By:       /s/ Nancy Chouanard                                        
    Nancy Chouanard
    Vice President

 

 

 

 

EXHIBIT 6

 

 

 

 

October 29, 2020

 

 

 

Securities and Exchange Commission

Washington, D.C. 20549

 

Gentlemen:

 

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

 

 

 

 

  Very truly yours,
   
  WELLS FARGO BANK, NATIONAL ASSOCIATION
   
   
  By:       /s/ Nancy Chouanard                                        
    Nancy Chouanard
    Vice President

 

 

 

 

Exhibit 7

 

Consolidated Report of Condition of

 

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business June 30, 2020, filed in accordance with 12 U.S.C. §161 for National Banks.

 

            Dollar Amounts
In Millions
 
               
ASSETS            
Cash and balances due from depository institutions:           
Noninterest-bearing balances and currency and coin        $ 24,026 
Interest-bearing balances         234,953 
Securities:           
Held-to-maturity securities         168,952 
Available-for-sale securities         220,190 
Equity Securities with readily determinable fair value not held for trading         295 
            
Federal funds sold and securities purchased under agreements to resell:           
Federal funds sold in domestic offices         23 
Securities purchased under agreements to resell         69,768 
Loans and lease financing receivables:           
Loans and leases held for sale         31,851 
Loans and leases, net of unearned income  901,533         
LESS: Allowance for loan and lease losses  18,587         
Loans and leases, net of unearned income and allowance         882,946 
Trading Assets         54,369 
Premises and fixed assets (including capitalized leases)         11,582 
Other real estate owned         190 
Investments in unconsolidated subsidiaries and associated companies         13,135 
Direct and indirect investments in real estate ventures         23 
Intangible assets         31,115 
Other assets         56,522 
            
Total assets        $1,799,940 
            
LIABILITIES           
Deposits:           
In domestic offices        $1,464,907 
Noninterest-bearing  522,621         
Interest-bearing  942,286         
In foreign offices, Edge and Agreement subsidiaries, and IBFs         36,301 
Noninterest-bearing  851         
Interest-bearing  35,450         
Federal funds purchased and securities sold under agreements to repurchase:            
Federal funds purchased in domestic offices         10,047 
Securities sold under agreements to repurchase         6,465 

 

 

 

 

      Dollar Amounts
In Millions
     
      
Trading liabilities   11,918 
Other borrowed money     
(Includes mortgage indebtedness and obligations under capitalized leases)   56,468 
Subordinated notes and debentures   12,503 
Other liabilities   32,879 
      
Total liabilities   $1,631,488 
      
      
EQUITY CAPITAL     
Perpetual preferred stock and related surplus   0 
Common stock   519 
Surplus (exclude all surplus related to preferred stock)   114,730 
Retained earnings   51,212 
Accumulated other comprehensive income   1,959 
Other equity capital components   0 
      
Total bank equity capital   168,420 
Noncontrolling (minority) interests in consolidated subsidiaries   32 
      
Total equity capital   168,452 
      
Total liabilities, and equity capital  $1,799,940 

 

 

I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge

and belief.

 

 

  John R. Shrewsberry
Sr. EVP & CFO

 

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us

and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate

Federal regulatory authority and is true and correct.

 

 

Directors

Maria R. Morris

Theodore F. Craver, Jr.

Juan A. Pujadas