Del Monte closes tender offer for notes due 2012

Del Monte closes tender offer for notes due 2012 and eliminates certain default triggers

• On 1:20 pm EDT, Friday October 16, 2009

SAN FRANCISCO (AP) -- Del Monte Foods Co. said Friday it has closed its offer for its 8.625 percent senior subordinated notes due 2012 and secured changes to eliminate certain covenants and default provisions.

As of Oct. 1, Del Mote said that a $438.7 million principal amount of the notes had been validly tendered. On Friday, the company said an additional $1.8 million in principal amount of notes were validly tendered. Del Monte has accepted the notes for purchase and payment.

The San Francisco-based company said the remaining $9.5 million in principal amount of notes that were not tendered remain outstanding and subject to the terms of the indenture.

BofA Merrill Lynch and Barclays Capital were joint deal managers and solicitation agents. Global Bondholder Services Corp. was the information agent and depositary.

Del Monte sells foods under the S&W, Contadina and College Inn brands as well as pet food under the Meow Mix, Milk-Bone, 9Lives and other brands.

Its shares fell 15 cents to $10.90 on Friday afternoon.