date:Nov 08, 2013
Philippines-based fruit juice manufacturer Del Monte Pacific Limited (DMPL) released details on a $1.28 billion credit backing its $1.675 billion acquisition of the Del Monte Foods (DMF) consumer food business.
The new credit is split between a $350 million asset-based revolving credit facility, a $650 million, seven-year term loan B and a $280 million, 7.5-year second-lien term loan.
Pricing on the term loan B is LIB+375 with a 1 percent Libor floor. The loan will be priced at an original iss