Dublin-listed Total Produce, which is merging with Dole Foods in the US, has completed a $1.44 billion (€1.2 billion) refinancing.
The credit agreement with Coöperatieve Rabobank provides a $500 million five-year committed multi-currency senior secured revolving credit facility, which is available to Total Produce and its co-borrowers. It also includes a $940 million seven-year senior secured term loan facility with Bank of America.
Proceeds of the facilities will be used to refinance the existing Total Produce and Dole debt agreements.
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