SAN FRANCISCO--(BUSINESS WIRE)--Oct. 16, 2009--
Del Monte Foods Company (NYSE:DLM) (the “Company”) previously announced
that its wholly owned subsidiary Del Monte Corporation (“Del Monte”) had
commenced a cash tender offer (the “Tender Offer”) for any and all of
its 8 5/8% Senior Subordinated Notes due 2012 (the “Notes”), of which
$450 million principal amount were outstanding at such time. In
conjunction with the Tender Offer, Del Monte also solicited consents
(the “Consent Solicitation” and together with the Tender Offer, the
“Offer”) to adopt proposed amendments to the indenture under which the
Notes were issued, dated as of December 20, 2002 (as supplemented to
such date, the “Indenture”), that would eliminate substantially all
restrictive covenants and certain event of default provisions contained
in the Indenture. On October 1, 2009, the Company announced that as of
5:00 pm, New York City time, on September 30, 2009 (the “Consent Time”),
$438,748,000 aggregate principal amount of the Notes had been validly
tendered and not withdrawn, which represented approximately 97.5% of the
outstanding aggregate principal amount of the Notes. Del Monte accepted
for purchase and payment all of such tendered Notes.
The Company announced today that an additional $1,785,000 aggregate
principal amount of Notes, or approximately 0.4% of the original
outstanding aggregate principal amount of the Notes, were validly
tendered and not withdrawn after the Consent Time but at or prior to
11:59 p.m., New York City time, on October 15, 2009 (the “Expiration
Date”), pursuant to the Tender Offer. The Expiration Date marks the
expiration of the Tender Offer. Del Monte accepted for purchase and
payment all of such additional Notes.
The remaining $9,467,000 principal amount of the Notes that were not
tendered and purchased pursuant to the Tender Offer currently remain
outstanding and the holders thereof are subject to the terms of the
Indenture, as amended by the terms of the Second Supplemental Indenture
entered into on September 30, 2009 and effective October 1, 2009.
BofA Merrill Lynch and Barclays Capital served as joint Dealer Managers
and Solicitation Agents and Global Bondholder Services Corporation
served as Information Agent and Depositary for the Offer.
This announcement is not an offer to purchase, a solicitation of an
offer to purchase, or a solicitation of tenders or consents with respect
to, any Notes.
Company Information
About Del Monte Foods
Del Monte Foods is one of the country’s largest and most well-known
producers, distributors and marketers of premium quality, branded food
and pet products for the U.S. retail market, generating approximately
$3.6 billion in net sales in fiscal 2009. With a powerful portfolio of
brands including Del Monte®, S&W®,
Contadina®, College Inn®,
Meow Mix®, Kibbles 'n Bits®,
9Lives®, Milk-Bone®,
Pup-Peroni®, Meaty Bone®,
Snausages® and Pounce®,
Del Monte products are found in eight out of ten U.S. households. The
Company also produces, distributes and markets private label food and
pet products. For more information on Del Monte Foods Company visit the
Company’s website at www.delmonte.com.
Del Monte. Nourishing Families. Enriching Lives. Every Day.™
Source: Del Monte Foods Company
Media:
Sard Verbinnen
Brandy Bergman/Robin Weinberg
212-687-8080
or
Analyst/Investor:
Del
Monte Foods
Jennifer Garrison/Katherine Husseini
415-247-3382
investor.relations@delmonte.com
