11.19.09
Sensient Technologies Corporation announced that it has entered into an agreement with a group of financial institutions for the issuance of $110 million in fixed-rate, senior notes. The dollar-denominated debt will have a six-year average life with a final maturity in May 2017. Proceeds from the offering will be used to repay outstanding debt.
“We are very pleased with the interest from investors and think it says a great deal about the strength of the company,” Kenneth P. Manning, chairman and CEO of Sensient Technologies, said. “The coupon is under 5 percent and subscriptions were 2½ times the original offering amount. Despite volatile financial markets over the past several years, Sensient has consistently demonstrated an ability to raise capital at favorable terms.”
“We are very pleased with the interest from investors and think it says a great deal about the strength of the company,” Kenneth P. Manning, chairman and CEO of Sensient Technologies, said. “The coupon is under 5 percent and subscriptions were 2½ times the original offering amount. Despite volatile financial markets over the past several years, Sensient has consistently demonstrated an ability to raise capital at favorable terms.”