IFF announced the commencement of tender offers to purchase for cash certain outstanding series of its notes, with an aggregate purchase price, excluding accrued interest, of up to $1.8 billion. The offers are divided into two pools with maximum amounts of $1.0 billion for Pool 1 Notes and $800 million for Pool 2 Notes.
The tender offers include various Senior Notes due from 2025 to 2050, each with specific acceptance priority levels and series tender caps. Holders who tender their notes prior to the early tender date of May 15, 2025, are eligible to receive an early tender payment of $30.00 per $1,000 principal amount.
IFF intends to fund the purchase of these notes with the cash proceeds from the sale of its Pharma Solutions business, which was completed on May 1, 2025. This strategic debt management initiative aims to reduce the company's overall indebtedness and improve its financial flexibility.
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