US$1.2bn refinancing will extend the maturity of outstanding debt at favourable interest rates, the group says
Dole has announced that it has successfully refinanced its corporate credit facilities.
The group said the transaction will extend the maturity of outstanding debt at favourable interest rates.
The new credit facilities consist of a US$600mn multicurrency five-year revolving credit facility (RCF), a US$250mn five-year term loan A (TLA) and a US$350mn seven-year farm credit term loan.
These new credit facilities replace an existing RCF, TLA and a senior secured term loan B, Dole said.
“This refinancing strengthens the financial position of Dole and provides enhanced financial flexibility to support our growth initiatives,” said Dole’s chief financial officer Jacinta Devine.
”We are grateful for the ongoing support of our lenders and appreciate their partnership and confidence in our operations and long-term strategy.”
