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.