IFF Announces Pricing of Euro-Denominated Senior Notes
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, today announced that it has priced an underwritten public offering of €500 million in aggregate principal amount of euro-denominated 1.75% Senior Notes due 2024 (the “notes”) at an offering price of 99.822% of the principal amount. IFF anticipates that the offering will close on March 14th , 2016, subject to customary closing conditions.
IFF intends to use the net proceeds from the offering to repay at maturity its 6.14% Series D Notes due July 12, 2016, of which $125,000,000 in aggregate principal amount is outstanding, to repay borrowings under our revolving credit facility and for general corporate purposes.
BNP Paribas, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc are acting as joint book-running managers.
This offering is being made pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”).
The offering of senior notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to the Notes can be obtained from BNP Paribas by calling toll free at +1 800-854-5674, J.P. Morgan by calling +44-(0)207-134-2468; or Morgan Stanley by calling toll free at +1 866-718-1649.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities. The offering is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful.
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?” That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 6,700 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products.
International Flavors & Fragrances Inc.
VP, Global Corporate Communications & Investor Relations
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