Del Monte Pacific (SG:D03) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Del Monte Pacific Limited has made significant progress in its financial restructuring, using the $66.3 million net proceeds from its $70 million senior perpetual capital securities issuance to settle derivative agreements and partially redeem shares from SEA Diner. This series of transactions has led to the company, through its subsidiary CARI, owning 89.54% of Del Monte Philippines, Inc., with SEA Diner’s remaining shares being converted into new redeemable, convertible preferred shares with specific terms, including an 8.0% dividend yield and conditions on gross debt and dividend payments.
For further insights into SG:D03 stock, check out TipRanks’ Stock Analysis page.