Loan & DebtJul 21, 2026, 04:31 PM
Del Monte increases credit facility to $900M from $750M
AI Summary
Del Monte Corporation (formerly Fresh Del Monte Produce Inc.) and its subsidiaries entered into Amendment No. 3 to their Second Amended and Restated Credit Agreement, effective July 15, 2026. This amendment significantly increases the aggregate Revolving Commitments and L/C Commitments from $750 million to $900 million. Additionally, it modifies the definition of "Term SOFR" by removing a 10 basis points adjustment and incorporates administrative changes, including the company's name change and the addition of new Co-Documentation Agents.
Key Highlights
- Aggregate Revolving Commitments increased to $900,000,000 from $750,000,000.
- Aggregate L/C Commitments increased to $900,000,000 from $750,000,000.
- Amendment No. 3 to the Second Amended and Restated Credit Agreement became effective July 15, 2026.
- The definition of "Term SOFR" was amended to remove a 10 basis points adjustment.
- COÖPERATIEVE RABOBANK U.A. and PNC BANK, NATIONAL ASSOCIATION were added as Co-Documentation Agents.
- Del Monte Fresh Produce N.A., Inc., Del Monte Fund B.V., and Del Monte International GmbH were designated as "Designated Borrowers".
- The amendment also includes EU CRD VI Art. 21c Provisions for EU Lenders.
Price Impact
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