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.
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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.
