Del Monte Pacific has announced it has put plans to issue S$360m (US$287.93m) preference share offer in Singapore on hold, according to Channel News Asia.
The Philippines-based company, which is listed in both the Philippines and Singapore, cited poor global market conditions for the deferment.
“In view of weak global market conditions, the company has decided to defer the offering, which was proposed to refinance the company’s bridge loan with BDO Unibank Inc,” Del Monte said.
The shares were to be issued to refinance debt from the acquisition of Del Monte Foods for S$2.24bn (US$1.68bn) in 2013.
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