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Reuters: Del Monte Pacific Details $1.3B Acquisition Financing

November 08, 2013, 07:29 AM

Philippines-based fruit juice manufacturer Del Monte Pacific Limited released details on a $1.28 billion credit backing its $1.675 billion acquisition of the Del Monte Foods consumer food business, sources told Thomson Reuters LPC.

Reuters reported 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.

The loans were offered to institutional investors meeting hosted by Citigroup, Morgan Stanley and KKR Capital Markets.

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