Big Heart Pet Brands to redeem $400 million 7 5/8% notes due 2019

By Tali Rackner

Norfolk, Va., Feb. 28 - Big Heart Pet Brands, Inc., formerly Del Monte Corp., issued a notice that it plans to redeem $400 million of its 7 5/8% senior notes due 2019, according to an 8-K filed with the Securities and Exchange Commission.

The notes will be redeemed at 103.813 plus accrued interest on March 13.

The redemption was conditioned upon the sale of the company's consumer products business and a related amendment of its credit facilities, under which it intended to repay about $881 million of the $2,607,400,000 term loan B then outstanding.

The company is a San Francisco-based producer, distributor and marketer of pet products and food products.

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