Financing ·
International Flavors & Fragrances Inc. entered into a $1,000,000,000 senior unsecured delayed draw term loan facility…
IFFInternational Flavors & Fragrances Inc
International Flavors & Fragrances Inc. entered into a $1,000,000,000 senior unsecured delayed draw term loan facility with Wells Fargo Bank, National Association, to refinance its €800 million 1.800% Senior Notes due 2026. The facility is available through September 25, 2026, and matures on December 31, 2027. The company is also expected to generate approximately $3.8 billion in net cash proceeds from the sale of its Food Ingredients business segment, which must be used to mandatory prepay the term loan. International Flavors & Fragrances Inc. develops and manufactures flavors and fragrances for the consumer goods industry.