Dole Food Announces Private Debt Offering

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Dole Food Company Inc. on Monday said it intends to sell in a private offering $325 million in senior secured notes to be due in 2014.

The Westlake Village company said it intends to use the net proceeds, together with borrowings under its revolving credit facility, to purchase its outstanding senior notes due May 1, 2009, and pay related expenses. Dole did not disclose the interest rate the new unregistered senior notes would pay.

Privately held Dole, with 2008 net revenues of $7.6 billion, is considered the world’s largest producer and marketer of fresh fruit and vegetables.

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