Dole plc announced the successful refinancing of its corporate credit facilities, a significant financial maneuver that will extend the maturity of its outstanding debt. The new credit facilities were secured at favorable interest rates, enhancing the company's financial flexibility.
The refinancing package includes a $600 million multicurrency five-year Revolving Credit Facility (RCF), a $250 million five-year Term Loan A (TLA), and a $350 million seven-year Farm Credit term loan. These new facilities replace an existing RCF, TLA, and a senior secured Term Loan B.
This strategic refinancing move is expected to provide Dole with greater stability in its capital structure and potentially reduce future interest expenses. The successful syndication of all facilities underscores confidence from financial institutions in Dole's business outlook and creditworthiness.
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