Del Monte Pacific Ltd , which is publicly listed in Singapore and the Philippines, is looking to raise $360 million via the sale of preferred shares for debt refinancing, a regulatory filing showed on Friday.
Del Monte is seeking approval from the Philippines' Securities and Exchange Commission to sell 36 million preferred shares at an indicative price of $10 each.
The company known for its canned pineapple and tomato sauce is offering a dividend rate of 5.25 to 7 percent and targeting a Dec. 8-12 offering.
Proceeds will be used to refinance a portion of the debt used to acquire the canned food business of private equity-backed Del Monte Foods Consumer Products Inc, which is based in San Francisco, for $1.7 billion last year.
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