Sensient Technologies Enters Material Definitive Agreement
Ticker: SXT · Form: 8-K · Filed: Sep 4, 2024 · CIK: 310142
Sentiment: neutral
Topics: debt, financing, material-agreement
TL;DR
Sensient just signed a new credit agreement, locking in a new financial obligation.
AI Summary
On August 30, 2024, Sensient Technologies Corporation entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the registrant. This agreement is a significant event requiring disclosure under SEC regulations.
Why It Matters
This filing indicates a new financial obligation for Sensient Technologies, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce financial risks related to debt servicing and market conditions.
Key Players & Entities
- Sensient Technologies Corporation (company) — Registrant
- August 30, 2024 (date) — Date of earliest event reported
- Wisconsin (location) — State of incorporation
- 777 East Wisconsin Avenue (address) — Principal executive offices
- Milwaukee (location) — City of principal executive offices
FAQ
What type of material definitive agreement did Sensient Technologies Corporation enter into?
Sensient Technologies Corporation entered into a credit agreement.
On what date was this material definitive agreement reported?
The earliest event reported was on August 30, 2024.
What is the principal executive office address of Sensient Technologies Corporation?
The principal executive office address is 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202-5304.
What is the Commission File Number for Sensient Technologies Corporation?
The Commission File Number is 001-07626.
Under which section of the Securities Exchange Act of 1934 is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 670 words · 3 min read · ~2 pages · Grade level 13.1 · Accepted 2024-09-04 16:48:38
Key Financial Figures
- $0.10 — ich registered Common stock, par value $0.10 per share SXT New York Stock Exchan
Filing Documents
- ef20035449_8k.htm (8-K) — 29KB
- ef20035449_ex10-1.htm (EX-10.1) — 42KB
- 0001140361-24-040079.txt ( ) — 210KB
- sxt-20240830.xsd (EX-101.SCH) — 4KB
- sxt-20240830_lab.xml (EX-101.LAB) — 21KB
- sxt-20240830_pre.xml (EX-101.PRE) — 16KB
- ef20035449_8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement. On August 30, 2024, Sensient Receivables LLC ("Sensient Receivables"), Sensient Technologies Corporation (the "Company"), and Wells Fargo Bank, National Association ("Wells Fargo") entered into Amendment No. 11 (the "Amendment") to that certain Receivables Purchase Agreement, dated as of October 3, 2016, among Sensient Receivables, as the seller, the Company, as the initial servicer and the performance guarantor, and Wells Fargo, as the purchaser. The Receivables Purchase Agreement, as amended, together with a Receivables Sale Agreement and Performance Undertaking, establish the terms and conditions of a trade receivables securitization program (the "Receivables Securitization Program"). The Amendment amends the Receivables Securitization Program to, among other things, (a) extend the termination date of the Receivables Securitization Program to August 29, 2025, and (b) provide that a maximum of 10% of eligible receivables under the Receivables Securitization Program may have terms in excess of 120 days from the invoice date provided that they are owing from specified customers, in each case pursuant to the terms of the Amendment. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . The following exhibits are filed with this Current Report on Form 8-K: EXHIBIT INDEX Exhibit Number Description 10.1 Amendment No. 11 to Receivables Purchase Agreement, dated as of August 30, 2024, among Sensient Receivables LLC, Sensient Technologies Corporation, and Wells Fargo Bank, National Association. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SENSIENT TECHNOLOGIES CORPORATION By: /s/ John J. Manning Name: John J. Manning Title: Senior Vice President, General Counsel, and Secretary Date: September 4, 2024