Sensient Technologies (SXT) entered into a agreement providing for an unsecured delayed-draw term loan credit facility of up to $400 million, the company said Tuesday.

The facility can be drawn in up to five advances over 15 months following the closing date, according to a regulatory filing.

All amounts owing under the loan will be due five years from closing, the company said, adding that proceeds will go toward refinancing existing debt and for working capital and other general corporate purposes.