IFF Signs $1 Billion Term Loan to Refinance €800 Million Senior Notes Due 2026
International Flavors & Fragrances entered a $1,000,000,000 senior unsecured delayed draw term loan with Wells Fargo as administrative agent, to be used with cash on hand to refinance its €800 million 1.800% Senior Notes due September 25, 2026. The loan must be prepaid from net proceeds of the planned sale of its Food Ingredients business, expected to generate approximately $3.8 billion, which is expected to close by the end of the second quarter of 2027.
Key points
- $1,000,000,000 single-draw term loan available through September 25, 2026, maturing December 31, 2027
- Proceeds, with cash on hand, to refinance €800 million 1.800% Senior Notes due September 25, 2026
- Interest at Term SOFR plus 0.875% to 1.500%, based on public debt ratings; no commitment fee
- Mandatory prepayment with 100% of net cash proceeds from a Food Ingredients business sale, expected at approximately $3.8 billion
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 23, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.