SENSIENT TECHNOLOGIES CORP (SXT): debt financing — Sensient issues $145M senior notes (4.62%-6.34%), refinances maturing debt

SENSIENT TECHNOLOGIES CORP

Issued $35M 6.08% notes due 2026, $35M 6.14% notes due 2027, $35M 6.34% notes due 2029, and €40M 4.62% notes due 2029 via private placement.
Proceeds refinanced $75M 3.66% notes due Nov 2023, €38.25M 3.06% notes due Nov 2023, and repaid revolving credit (incl. £25M 2.53% notes due Nov 2023).
Covenants: max leverage ratio 3.50:1 (3.75:1 post-material acquisition); min interest coverage 3.00:1.
Interest payable semi-annually; optional prepayment with make-whole and swap breakage amounts.
Funds received on Nov 29, 2023; closing occurred same day.

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 $35,000,000 of U.S. dollar-denominated three-year 6.08% senior notes maturing on November 29, 2026; $35,000,000 of U.S. at 6.08% ... 6.14% ... 6.34% ... 4.62% maturing November 29, 2026; November 29, 2027; November 29, 2029; November 29, 2029.

Instrument: senior notes
Principal: $35,000,000 of U.S. dollar-denominated three-year 6.08% senior notes maturing on November 29, 2026; $35,000,000 of U.S.
Rate: 6.08% ... 6.14% ... 6.34% ... 4.62%
Maturity: November 29, 2026; November 29, 2027; November 29, 2029; November 29, 2029
Event: incurrence

Exact text from the filing

On November 29, 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 $35,000,000 of U.S. dollar-denominated three-year 6.08% senior notes maturing on November 29, 2026; $35,000,000 of U.S. dollar-denominated four-year 6.14% senior notes maturing on November 29, 2027; $35,000,000 of U.S. dollar-denominated six-year 6.34% senior notes maturing on November 29, 2029; and €40,000,000 of Euro-denominated six-year 4.62% senior notes maturing on November 29, 2029 (collectively, the “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 valued at $35,000,000 of U.S. dollar-denominated three-year 6.08% senior notes ... $35,000,000 of U.S. dollar- (effective 2023-11-29).

Action: entry
Agreement: notes offering
Value: $35,000,000 of U.S. dollar-denominated three-year 6.08% senior notes ... $35,000,000 of U.S. dollar-
Effective: 2023-11-29

Exact text from the filing

On November 29, 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 $35,000,000 of U.S. dollar-denominated three-year 6.08% senior notes maturing on November 29, 2026; $35,000,000 of U.S. dollar-denominated four-year 6.14% senior notes maturing on November 29, 2027; $35,000,000 of U.S. dollar-denominated six-year 6.34% senior notes maturing on November 29, 2029; and €40,000,000 of Euro-denominated six-year 4.62% senior notes maturing on November 29, 2029 (collectively, the “Notes”).

View on SEC.gov

271 debt financings filed in the last 30 days. Browse all debt financings →

SENSIENT TECHNOLOGIES CORP filing history →

Source: SEC EDGAR

accession 0001140361-23-055823

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