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Wells Fargo, Others Provide $450MM Facility to Sensient

October 27, 2014, 07:42 AM
Filed Under: Manufacturing

Sensient Technologies Corporation has completed a new $450 million revolving credit facility, with nine banks participating in the transaction. The facility, comprised of a five year, $350 million revolver and a $100 million term loan will be used to refinance current bank debt and for general corporate purposes. An SEC Filing notes the company entered into an amended and restated credit agreement by and among the company, as borrower, and a group of nine banks led by Wells Fargo Bank, National Association, as Administrative Agent, and KeyBank National Association, as Syndication Agent.  The credit agreement provides for a $350 million revolving credit facility and a $100 million term loan facility, each with a term of five years. The facility replaces Sensient’s existing $350 million revolving facility that matures in April 2016. To view the SEC 8-K filing, click here.

“This facility provides Sensient with access to ample liquidity for the next five years,” said Paul Manning, President and CEO of Sensient Technologies Corporation. “The transaction was significantly oversubscribed and we are very pleased with the support from our bank group.”

Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colors, and other specialty and fine chemicals. The Company’s customers include major international manufacturers representing most of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.

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