Dole plc announced on May 1 that it has successfully refinanced its corporate credit facilities. The transaction will extend the maturity of outstanding debt at favorable interest rates.

The new credit facilities consist of a $600 million multicurrency five-year Revolving Credit Facility (“RCF”), a $250 million five-year Term Loan A (“TLA”), and a $350 million seven-year Farm Credit term loan.

These new credit facilities replace an existing RCF, TLA, and a senior secured Term Loan B. All facilities have been successfully syndicated.

Commenting on the transaction, Dole’s Chief Financial Officer Jacinta Devine said: “This refinancing strengthens Dole's financial position and provides enhanced financial flexibility to support our growth initiatives. We are grateful for the ongoing support of our lenders and appreciate their partnership and confidence in our operations and long-term strategy.”

Coöperatieve Rabobank U.A., BofA Securities Inc., and Allied Irish Banks plc acted as the Joint Bookrunners and Joint Lead Arrangers for the RCF and TLA syndicated to commercial banks. AgFirst Farm Credit Bank and AgSouth Farm Credit, ACA acted as Joint Bookrunners and Joint Lead Arrangers for the Farm Credit facilities.