Dole Food to bring $1.275 billion credit facility to market

By Sara Rosenberg

New York, March 21 - Dole Food Co. Inc. is expected to come to market with a $1.275 billion credit facility, according to a market source.

Deutsche Bank is the left lead on the deal.

The facility is anticipated to contain an about $900 million covenant-light term loan B, with the remaining portion of the facility anticipated to be made up of pro rata debt, the source said.

Proceeds will be used to refinance existing debt.

Dole is a Westlake Village, Calif., producer and marketer of fresh fruit, fresh vegetables and fresh-cut flowers.

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