Chiquita Completes Refinancing of Its Senior Secured Credit Facility.
PR Newswire Europe, March, 2008
CINCINNATI, March 31 /PRNewswire/ --
Chiquita Brands International, Inc. (NYSE: CQB) today announced that it has entered into a new US$350 million senior secured credit agreement with various lenders, including Cooperatieve Centrale Raiffeisen - Boerenleenbank B.A., "Rabobank Nederland," New York Branch ("Rabobank") acting as administrative agent and lead arranger and with Wells Fargo Bank, National Association as the syndication agent. Entry into this agreement completes the company's previously announced refinancing plan, which has lowered the company's interest expense, extended debt maturities and added significant covenant flexibility that will allow management to focus further on successfully executing its profitable growth strategy.
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