NEW YORK--(BUSINESS WIRE)--May 15, 2017--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170515006464/en/
Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
Michael DeVeau,
212-708-7164
VP, Global Corporate Communications & Investor
Relations
Michael.DeVeau@iff.com
