ErnestinaMerrym le 15 novembre 2013 à 00:34

2013-11-15T00:34:32Z

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-	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, sources told Thomson Reuters LPC.<br><br>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.<br><br>Pricing on the term loan B is LIB+375 with a 1 percent Libor floor. The loan will be priced at an original issue discount of 99-99.5. Call protection on the term loan B is set at 101 soft call for six months.<br>The second-lien pays LIB+775 with a 1 percent Libor floor and will be priced at a discount of 98-98.5. The second-lien call protection is set at 103, 102, 101. Both loans are expected to be covenant-lite.<br><br>The loans were offered to institutional investors Thursday morning at a bank meeting hosted by Citigroup, Morgan Stanley and KKR Capital Markets. Participants in the meeting received drink boxes and other goodies. ~~[http://www.maximumgoo74.com website]~~ Investors are expected to commit to the deal by November 18.<br><br>DMPL expects to borrow $76 million of the asset-based facility at closing of the purchase.<br><br>DMPL, unaffiliated with DMF, is a publicly traded company listed in Singapore and the Philippines. DMF is a privately owned U.S. manufacturer of processed foods.<br>Following the spin-off of its canned food business, DMF will focus on its pet food business under a new name.<br>The acquisition, announced in October, is expected to close by the first quarter of 2014. Also in October, DMPL said the $1.675 billion transaction will be financed through a combination of $745 million of equity and the committed financing.<br><br>KKR, Vestar and Centerview have owned DMF since March 2011. Del Monte Foods, Del Monte Pacific, Centerview, Morgan Stanley and Citi could not be reached for comment by press time. KKR and Vestar declined to comment.<br>DMPL is 67 percent-owned by NutriAsia Pacific Ltd (NPL). NPL is owned by the NutriAsia group, which is majority-owned by the Campos family of the Philippines, per a Reuters report.<br><br>BDO Capital, Investment Corp. and Bank of the Philippine Islands provided committed financing to DMPL.	+	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, sources told Thomson Reuters LPC.<br><br>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.<br><br>Pricing on the term loan B is LIB+375 with a 1 percent Libor floor. The loan [http://www.maximumgoo74.com blog] will be priced at an original issue discount of 99-99.5. Call protection on the term loan B is set at 101 soft call for six months.<br>The second-lien pays LIB+775 with a 1 percent Libor floor and will be priced at a discount of 98-98.5. The second-lien call protection is set at 103, 102, 101. Both loans are expected to be covenant-lite.<br><br>The loans were offered to institutional investors Thursday morning at a bank meeting hosted by Citigroup, Morgan Stanley and KKR Capital Markets. Participants in the meeting received drink boxes and other goodies. Investors are expected to commit to the deal by November 18.<br><br>DMPL expects to borrow $76 million of the asset-based facility at closing of the purchase.<br><br>DMPL, unaffiliated with DMF, is a publicly traded company listed in Singapore and the Philippines. DMF is a privately owned U.S. manufacturer of processed foods.<br>Following the spin-off of its canned food business, DMF will focus on its pet food business under a new name.<br>The acquisition, announced in October, is expected to close by the first quarter of 2014. Also in October, DMPL said the $1.675 billion transaction will be financed through a combination of $745 million of equity and the committed financing.<br><br>KKR, Vestar and Centerview have owned DMF since March 2011. Del Monte Foods, Del Monte Pacific, Centerview, Morgan Stanley and Citi could not be reached for comment by press time. KKR and Vestar declined to comment.<br>DMPL is 67 percent-owned by NutriAsia Pacific Ltd (NPL). NPL is owned by the NutriAsia group, which is majority-owned by the Campos family of the Philippines, per a Reuters report.<br><br>BDO Capital, Investment Corp. and Bank of the Philippine Islands provided committed financing to DMPL.

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2013-11-14T23:11:20Z

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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, sources told Thomson Reuters LPC. 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 issue discount of 99-99.5. Call protection on the term loan B is set at 101 soft call for six months. The second-lien pays LIB+775 with a 1 percent Libor floor and will be priced at a discount of 98-98.5. The second-lien call protection is set at 103, 102, 101. Both loans are expected to be covenant-lite. The loans were offered to institutional investors Thursday morning at a bank meeting hosted by Citigroup, Morgan Stanley and KKR Capital Markets. Participants in the meeting received drink boxes and other goodies. [http://www.maximumgoo74.com website] Investors are expected to commit to the deal by November 18. DMPL expects to borrow $76 million of the asset-based facility at closing of the purchase. DMPL, unaffiliated with DMF, is a publicly traded company listed in Singapore and the Philippines. DMF is a privately owned U.S. manufacturer of processed foods. Following the spin-off of its canned food business, DMF will focus on its pet food business under a new name. The acquisition, announced in October, is expected to close by the first quarter of 2014. Also in October, DMPL said the $1.675 billion transaction will be financed through a combination of $745 million of equity and the committed financing. KKR, Vestar and Centerview have owned DMF since March 2011. Del Monte Foods, Del Monte Pacific, Centerview, Morgan Stanley and Citi could not be reached for comment by press time. KKR and Vestar declined to comment. DMPL is 67 percent-owned by NutriAsia Pacific Ltd (NPL). NPL is owned by the NutriAsia group, which is majority-owned by the Campos family of the Philippines, per a Reuters report. BDO Capital, Investment Corp. and Bank of the Philippine Islands provided committed financing to DMPL.

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ErnestinaMerrym le 15 novembre 2013 à 00:34

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