Del Monte closes private placement of $450M notes
San Francisco, California — Del Monte Foods Co. announced its Del Monte Corp. subsidiary has completed a private placement of $450 million in senior notes.
The companyalso settled its cash tender offer for its 8.625 percent senior notes due 2012 using proceeds from the new notes sale. Del Monte bought back about $438.7 million worth of the 2012 notes, about 97.5 percent of the outstanding debt via the private offering.
Holders of the 2012 notes received $1,031.25 for each $1,000 of notes tendered.
In addition to its namesake brand, Del Monte sells products under the College Inn and Contadina brands. Del Monte also sells pet food under the Meow Mix, 9Lives and Kibbles ‘n Bits names.
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