International Flavors & Fragrances Inc. €1.1 Billion Senior Notes Offering

Davis Polk advised the representatives of the underwriters in connection with an SEC-registered offering by International Flavors & Fragrances Inc. of €1.1 billion aggregate principal amount of senior notes, consisting of €300 million aggregate principal amount of 0.500% senior notes due 2021 and €800 million aggregate principal amount of 1.800% senior notes due 2026.

IFF intends to use the net proceeds from the offerings to finance a portion of its pending acquisition of Frutarom Industries Ltd. IFF is a leading innovator of sensorial experiences that move the world. Its 7,300 team members globally take advantage of leading consumer insights, research and development, creative expertise and customer intimacy to develop differentiated offerings for consumer products. Frutarom is a flavors, savory solutions and natural ingredients company, with production and development centers on six continents. It markets and sells over 70,000 products to more than 30,000 customers in over 150 countries.

The Davis Polk capital markets team included partner Michael Kaplan and associates Stephen A. Byeff and Amy Mao. The tax team included partners Michael Farber and Lucy W. Farr and associates Yixuan Long and Jonathan Saltz. All members of the Davis Polk team are based in the New York office.