US: Dole announces pricing of debt offering

By just-food.com | 16 March 2009

US fruit and vegetables group Dole Food Company has announced the pricing of its previously announced private offering to eligible purchasers of around US$350m aggregate principal amount of its 13 7/8% Senior Secured Notes due 2014.

The Notes were offered only to qualified institutional investors under Rule 144A of the Securities Act of 1933 and to persons outside the US in compliance with Regulation S under the Securities Act.

Net proceeds from the offering of approximately $325m, together with cash on hand and/or borrowings under Dole's revolving credit facility, will be used to purchase Dole's outstanding senior notes due 1 May, 2009, and pay related fees and expenses, the company said.

Sectors: Fresh produce

Companies: Dole