Del Monte prices bond issue

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    Del Monte Pacific Ltd. is pricing its P7.5 billion bond issuance at 3.4840 percent for the three-year tenor, due 2023 (Series A Bonds), and 3.7563 percent for the five-year tenor, due 2025 (Series B Bonds).

    The bonds will be simultaneously issued on Oct. 30, 2020, after the offer period that runs this week.

    The bonds are divided into an initial P5 billion and another P2.5 billion covering the oversubscription option.

    Del Monte however failed to declare where it would use the proceeds of the bond sale.