Dole Food Company, Inc. (“Dole”) announced today the pricing, on March 13, 2009, of its previously announced private offering to eligible purchasers of approximately $350 million aggregate principal amount of its 13 7/8% Senior Secured Notes due 2014 (the “Notes”). The Notes were offered only to qualified institutional investors pursuant to Rule 144A under the Securities Act of 1933 (the “Securities Act”) and to persons outside the United States in compliance with Regulation S under the Securities Act.
Net proceeds from the offering of approximately $325 million, together with cash on hand and/or borrowings under Dole’s revolving credit facility, will be used to purchase Dole’s outstanding senior notes due May 1, 2009, and pay related fees and expenses.
The Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. This press release shall not constitute an offer to sell or a solicitation of an offer to buy such Notes and is issued pursuant to Rule 135c under the Securities Act.
This release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Forward looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms such as “may,” “will,” “expects,” “believes,” “intends,” “anticipates” and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; energy supply and pricing; changes in interest and currency exchange rates; economic crises; security risks in developing countries; international conflict; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole’s financial results is included in its SEC filings.
Joseph Tesoriero, 818-879-6900
Beth Potillo, 818-879-6733