On November 1, 2018, Sensient Technologies Corporation entered into a new fixed rate, senior note purchase agreement with a group of financial institutions including New York Life Insurance Company, Metropolitan Life Insurance Company, and The Prudential Insurance Company of America. The notes include $25,000,000 of U.S. dollar denominated seven-year 4.19% senior notes; £25,000,000 of Sterling denominated five-year 2.53% senior notes; and £25,000,000 of Sterling denominated seven-year 2.76% senior notes. The new five-year notes will mature in November 2023, and the new seven-year notes will mature in November 2025. Funds were received on November 1, 2018, and the proceeds were used to refinance existing indebtedness. Similar to Sensient’s other debt agreements, the note purchase agreement requires Sensient to maintain a ratio of consolidated total funded debt to consolidated EBITDA (Leverage Ratio) of not more than 3.50 to 1.00, and a fixed charge coverage ratio of not less than 2.00 to 1.00. The note purchase agreement also includes other financial covenants that are customary in transactions of this type and similar to those in Sensient’s existing debt agreements.