Ingredion Secures $1.475 Billion Delayed-Draw Term Loan to Fund Tate & Lyle Acquisition
INGR is trading near its 52-week low of $96.575 (0.3% above the low).
Summary
Ingredion has secured a $1.475 billion delayed-draw term loan facility to finance its previously announced $3.6 billion acquisition of Tate & Lyle. This new financing, consisting of a $500 million Tranche A-1 and a $975 million Tranche B-1, replaces a portion of the $4.225 billion bridge loan that was secured on June 9th. This represents a significant step in securing more permanent funding for the acquisition, which is a material event for the company.
At the time of this announcement, INGR was trading at $96.82 on NYSE in the Manufacturing sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $96.58 to $138.40. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.