McCormick & Company in $1 Billion Revolving Credit Facility
December 23, 2020
Cleary Gottlieb represented McCormick & Company, Incorporated in a $1 billion 364-day revolving credit facility.
The proceeds of the facility were used to backstop a commercial paper issuance by the company, and the facility may be used for general corporate purposes.
Bank of America served as the administrative agent and a lender. The transaction closed on December 23, 2020.
Founded in 1889, McCormick & Company, Incorporated is a global leader in flavor. With over $5 billion in annual sales across 150 countries and territories, McCormick manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry including ecommerce channels, grocery, food manufacturers and foodservice businesses.