Chiquita begins change-of-control tender offer for 7 7/8% notes

By Marisa Wong

Madison, Wis., Feb. 3 – Chiquita Brands International, Inc. and Chiquita Brands LLC said they have begun a tender offer to purchase for cash any and all of their outstanding $233.75 million 7 7/8% senior secured notes due 2021.

The issuers are offering to purchase the notes at a purchase price of 101. Holders who tender their notes will also receive accrued interest to, but excluding, the settlement date.

The tender offer is being made to satisfy the requirements of the indenture governing the notes as a result of a change-of-control transaction, according to a press release.

The tender offer will expire at 5 p.m. ET on March 4, and settlement is slated for March 5.

Notes tendered may be withdrawn at any time prior to 5 p.m. ET on Feb. 27.

Chiquita is a Charlotte, N.C.-based marketer and distributor of food products.

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