Dole Food sets Thursday lender call for $100 million add-on term loan

By Paul A. Harris

Portland, Ore., April 8 – Dole Food Co., Inc. set a Thursday lender call to present to investors a proposed $100 million add-on to its first-lien term loan due Nov. 1, 2018 (expected ratings B2/B-), according to a market source.

Deutsche Bank Securities Inc. is the left bookrunner. BofA Merrill Lynch and Scotia Capital (USA) Inc. are joint bookrunners.

The deal comes with a 350 basis points spread to Libor and with a 1% Libor floor.

The original issue discount remains to be determined.

The Westlake Village, Calif.-based fruit and vegetables company plans to use the proceeds for general corporate purposes including farm acquisitions.

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