|
|
Article: Del Monte Foods Announces Term Loan Borrowing to Reduce Revolving Loans.
- Article from:
- Business Wire
- Article date:
- August 15, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SAN FRANCISCO -- Del Monte Foods Company (NYSE: DLM) today announced that Del Monte Corporation, its wholly owned subsidiary, replaced a portion of its then-outstanding revolving credit facility balance by exercising a portion of the accordion feature that permits additional Term Loans, as allowed for in its existing senior credit facility. Del Monte replaced $100 million of such revolving balance with proceeds (net of fees and expenses) from the additional Term B loan. As a result, total debt outstanding was not impacted by the net additional Term B loan. The terms and conditions of the new Term B loan (including pricing, maturity, pro rata amortization and collateral and ...