IFF prices $500 million senior notes due 2047

IFF prices $500 million of senior notes due 2047

9:14 AM, 16th May 2017
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NEW YORK, US: International Flavors & Fragrances Inc (IFF) said that it has priced an underwritten public offering of $500 million in aggregate principal amount of 4.375 percent senior notes due 2047.

IFF intends to use the net proceeds from the offering to repay at maturity $250 million of its outstanding 6.25 percent Series A senior notes due 27 September 2017, to repay borrowings under its revolving credit facility, to repay amounts outstanding under its commercial paper program, and to use the remaining proceeds for general corporate purposes. IFF anticipates that the offering will close on 18 May 2017.

Citigroup Global Markets Inc, JP Morgan Securities LLC and Morgan Stanley & Co LLC are acting as joint book-running managers for the offering.

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