Del Monte’s CFO: Clean the balance sheet and repay debt
Del Monte will issue 36 million US dollar-denominated preferred shares at $10 per share to repay debt that it incurred when it acquired US-based Del Monte Foods Corp’s consumer business in 2013.
Del Monte Pacific, the Philippines-headquartered fruits company, is set to offer up to 36 million preferred shares at a maximum price of $10 per share in late January, in order to repay debt that it accumulated when the firm acquired US-based Del Monte Corporation in late 2013.
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