Chiquita sets redemption price for 10.56% notes

New York, Dec. 1 - Chiquita Brands International, Inc. announced the redemption price for its 10.56% senior notes due 2009. The price will be $1,075.36 per $1,000 principal amount of the notes, plus accrued and unpaid interest to the redemption date of $22.88. This redemption price was calculated in accordance with the provisions in the note indenture.

As previously announced, Chiquita Brands, a Cincinnati-based banana company, said on Nov. 3 that it would redeem its remaining $39 million of 10.56% senior notes on Dec. 3.

The company said that it would pay the make-whole rate specified in the note indenture.

Chiquita said that price would be fixed on Dec. 1 at 105.28% of the principal amount plus interest through the first call date of March 15, 2005, discounted using 25 basis points over the comparable Treasury.

Chiquita announced the plans for redemption of the notes after having recently completed a tender offer for the 10.56% notes, in which it bought $211 million of the debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.