IFF Announces Pricing of $500,000,000 Senior Notes Due 2047
May 15 2017 - 2:49PM
Business Wire
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext
Paris: IFF), a leading innovator of sensorial experiences that move
the world, today announced that it priced an underwritten public
offering of $500 million in aggregate principal amount of 4.375%
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%
Series A Senior Notes due September 27, 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 May 18, 2017, subject to customary closing
conditions.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC and
Morgan Stanley & Co. LLC are acting as joint book-running
managers for the offering. This offering is being made pursuant to
an effective shelf registration statement on Form S-3 filed with
the Securities and Exchange Commission (“SEC”) and only by means of
a prospectus supplement and accompanying prospectus. A copy of the
prospectus supplement and accompanying prospectus relating to the
offering can be obtained by contacting Citigroup Global Markets
Inc. toll-free at 1-800-831-9146, or by mail at Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by e-mail: prospectus@citi.com; J.P. Morgan Securities
LLC collect at 1-212-834-4533, or by mail at J.P. Morgan Securities
LLC, Attention: Investment Grade Syndicate Desk, 383 Madison
Avenue, New York, NY 10179; or Morgan Stanley & Co. LLC
toll-free at 1-866-718-1649, or by mail at Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, New York,
NY 10014, or by e-mail: prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Meet IFF
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 7,400
team members globally take advantage of leading consumer insights,
research and development, creative expertise, and customer intimacy
to develop differentiated offerings for consumer products. Learn
more at www.iff.com, Twitter, Facebook, Instagram, and
LinkedIn.
Cautionary Statement Regarding Forward-Looking
Statements
This press release includes “forward-looking statements” under
the Federal Private Securities Litigation Reform Act of 1995,
including the expected closing of the offering and use of proceeds
from the offering. These statements involve risks and uncertainties
that could cause actual results to differ materially, including,
but not limited to, the ability to satisfy customary closing
conditions with respect to the offering, prevailing market
conditions, and the impact of general economic, industry or
political conditions in the United States or internationally.
Additional risks and uncertainties relating to the offering, IFF
and its business can be found in IFF’s SEC filings, including IFF’s
Annual Report on Form 10-K for the year ended December 31, 2016
filed with the Commission on February 28, 2017. IFF undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170515006464/en/
International Flavors & Fragrances Inc.Michael
DeVeau, 212-708-7164VP, Global Corporate Communications &
Investor RelationsMichael.DeVeau@iff.com
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