CORAL GABLES, Fla.–(BUSINESS WIRE)– Fresh Del Monte Produce Inc. (the โCompanyโ), (NYSE: FDP) announced today that the Company has entered into an amended and restated $1.1 billion senior unsecured credit facility, with Bank of America, N.A. serving as the administrative agent. BOFA Securities was sole lead arranger and sole bookrunner on the transaction. The amended and restated credit facility amends the Companyโs credit facility to, among other things, extend the scheduled maturity date of the credit facility from April 15, 2020 to October 1, 2024 and add an accordion feature to increase the maximum availability by up to $300 million, subject to certain conditions and the lendersโ consent. The Company intends to use funds borrowed under the amended and restated credit facility from time to time for general corporate purposes, working capital, capital expenditures and other investment opportunities.
About Fresh Del Monte
Fresh Del Monte is one of the worldโs leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa and the Middle East. Fresh Del Monte markets its products worldwide under the DEL MONTEยฎ brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness and reliability for over 125 years. The Company also markets its products under the MANNTMย brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd.
Forward-looking Information
This press release contains certain forward-looking statements regarding the intents, beliefs or current expectations of the Company with respect to various matters, including statements regarding the amended and restated credit facility and the Companyโs intended use of proceeds. These forward-looking statements are based on information currently available to the Company and the Company assumes no obligation to update these statements. It is important to note that these forward-looking statements are not including the Companyโs ability to comply with the covenants and the terms of the amended and restated credit facility, general market conditions and those described under the caption โRisk Factorsโ in Fresh guarantees of future performance and involve risks and uncertainties. The Company’s actual results may differ materially from those in the forward-looking statements as a result of various important factors, Del Monte Produce Inc.’s Annual Report on Form 10-K for the year ended December 28, 2018, along with other reports that the Company has on file with the Securities and Exchange Commission.
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