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April 1, 2008

US: Chiquita completes refinancing deal

Chiquita Brands International has entered into a US$350m senior secured credit agreement with various lenders, to complete the company's previously announced refinancing plan.

Chiquita Brands International has entered into a US$350m senior secured credit agreement with various lenders, to complete the company’s previously announced refinancing plan.

The company said the agreement will allow it to “focus further on successfully executing its profitable growth strategy”.

“We are very pleased with the outcome of the refinancing we have achieved during a period of turbulent financial markets, and we appreciate the continuing support provided by our bank partners,” said Fernando Aguirre, chairman and CEO. “I am confident that our strengthened balance sheet will enhance our ability to achieve sustainable, profitable growth.”

The new six-year secured credit facility consists of a US$150m revolving credit facility and a $200m term loan.

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