WESTLAKE VILLAGE, Calif., June 28 (Bernama-BUSINESS WIRE) -- Dole Food Company, Inc. ("Dole") announced today the commencement of a consent solicitation regarding certain amendments (the "Amendments") to the Indenture, dated as of April 6, 2017, among Dole, DFC Holdings, LLC ("Holdings"), as a guarantor, the subsidiary guarantors party thereto, and Wilmington Trust, National Association, as trustee (the "Trustee"), governing its 7.25% Senior Secured Notes due 2025 (the "Notes") (the "Indenture"). Currently, the aggregate outstanding principal amount of Notes is $300,000,000.
The Amendments would release Holdings from its guarantee under the Indenture (and its other limited obligations under the Indenture and the Security Documents (as defined in the Indenture)), in each case, upon the consummation of a Qualified IPO (as defined in the Indenture) with respect to the common stock of the Issuer, and subject to the substantially concurrent (or prior) release of Holdings’ guarantees under the Term Loan Credit Agreement and Revolving Credit Agreement (each as defined in the Indenture).
The Amendments would release Holdings from its guarantee under the Indenture (and its other limited obligations under the Indenture and the Security Documents (as defined in the Indenture)), in each case, upon the consummation of a Qualified IPO (as defined in the Indenture) with respect to the common stock of the Issuer, and subject to the substantially concurrent (or prior) release of Holdings’ guarantees under the Term Loan Credit Agreement and Revolving Credit Agreement (each as defined in the Indenture).
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