Bonduelle Announces Refinancing Of Ready Pac Foods Acquisition
Vegetable firm Bonduelle Group has announced that it has finalised the refinancing operations associated with its recent acquisition of Ready Pac Foods in the US.
The operation was 'financed through a bridge loan of $279 million with an initial term of one year and a $130 million amortizing bank loan with a five years maturity,' the company said.
It was carried out jointly with Crédit Agricole Nord de France and Crédit Agricole CIB.
Bonduelle announced its acquisition of Ready Pac Foods for a total of $409 million back in February of this year.
Elsewhere, on 6 July, Bonduelle issued 'a new Private Placement in the US market (USPP) split into two tranches of respectively €150 million and $50 million. These two tranches both have a maturity of 10 years and bring the group’s total debt average maturity to almost 5 years', the company added.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.