Fresh Del Monte to launch $500 million revolver Tuesday via Rabobank

By Sara Rosenberg

New York, June 11 - Fresh Del Monte Produce Inc. is scheduled to hold a bank meeting on Tuesday to launch a proposed $500 million 31/2-year revolving credit facility, according to a market source.

Rabobank is the lead bank on the deal.

Price talk on the revolver is Libor plus 300 basis points with a 62.5 bps unused fee, the source said.

Proceeds will be used to refinance the company's existing $600 million revolver and a roughly $140 million term loan.

Fresh Del Monte is a Cayman Islands-based producer, transporter, marketer and distributor of fresh and fresh-cut fruit and vegetables.

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