SENSIENT TECHNOLOGIES CORP (SXT): debt financing — Sensient issues $75M USD and €40M senior notes due 2028 to repay credit facility debt

SENSIENT TECHNOLOGIES CORP

Issued $75M 4.94% Series M notes and €40M 4.15% Series N notes, both due May 31, 2028.
Proceeds used to repay existing indebtedness under the company's amended credit agreement.
Covenants include leverage ratio ≤3.50:1 (3.75:1 post-material acquisitions) and interest coverage ≥3:1.
Notes may be prepaid at 100% principal plus make-whole and swap breakage amounts.
Funds received on May 31, 2023; closing and sale completed on that date.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SENSIENT TECHNOLOGIES CORP incurred senior notes of $75,000,000 at 4.94% maturing May 31, 2028.

Instrument: senior notes
Principal: $75,000,000
Rate: 4.94%
Maturity: May 31, 2028
Event: incurrence

Exact text from the filing

the Company issued $75,000,000 of U.S. dollar-denominated five-year 4.94% senior notes

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SENSIENT TECHNOLOGIES CORP entered into Note Purchase Agreement with the purchasers named therein valued at $75,000,000 of U.S. dollar-denominated five-year 4.94% senior notes and €40,000,000 of Euro-denomina (effective 2023-05-31).

Action: entry
Agreement: notes offering
Counterparty: the purchasers named therein
Value: $75,000,000 of U.S. dollar-denominated five-year 4.94% senior notes and €40,000,000 of Euro-denomina
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, Sensient Technologies Corporation (the “Company”) entered into a fixed rate, senior note purchase agreement (the “Note Purchase Agreement”) with the purchasers named therein pursuant to which the Company issued $75,000,000 of U.S. dollar-denominated five-year 4.94% senior notes and €40,000,000 of Euro-denominated five-year 4.15% senior notes

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Source: SEC EDGAR

accession 0001140361-23-028236

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