Loan & DebtJun 23, 2026, 05:07 PM
Sensient Technologies Secures $400M Unsecured Term Loan Facility
AI Summary
Sensient Technologies Corporation has secured a new unsecured delayed-draw term loan credit facility totaling up to $400 million. This facility, entered into on June 18, 2026, will be used to refinance existing indebtedness, fund working capital, and support other general corporate purposes. The loan can be drawn over fifteen months in up to five advances and has a five-year maturity. It includes variable interest rates and an unused commitment fee, along with customary financial covenants such as Net Leverage Ratio and Interest Coverage Ratio requirements.
Key Highlights
- Sensient Technologies entered into a new Credit Agreement on June 18, 2026.
- The agreement provides for an unsecured delayed-draw term loan facility of up to $400 million.
- Proceeds will be used to refinance existing debt, for working capital, and general corporate purposes.
- The loan can be drawn in up to five advances over fifteen months and matures in five years.
- Interest rates are variable, based on Base Rate, Daily Simple SOFR, or Term SOFR, plus a margin.
- An unused commitment fee ranges from 0.125%-0.300% depending on the Net Leverage Ratio.
- Key covenants include a Net Leverage Ratio not exceeding 3.50:1.00 and an Interest Coverage Ratio of at least 3.00:1.00.
Price Impact
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