Dole Food Co. has extended the consent payment deadline with respect to its previously announced cash tender offer to purchase all of its outstanding senior notes.
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As of the close of business yesterday (4 March), around US$246m (or 71%) of the notes had been tendered and consents to the proposed amendments to the indenture governing the notes had been received from holders of around 71% in aggregate principal amount of the notes.
The tender offer and consent solicitation will expire at 12:00 midnight, New York City time, on 13 March, unless extended by Dole.
The offer is subject to several conditions, including Dole having available funds to pay the total consideration with respect to all the notes from the offer and sale of newly issued notes prior to the acceptance date, together with cash on hand and borrowings under Dole’s revolving credit facility.
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