Del Monte Pacific defers US$360m preference share offering
It cites lack of investor demand due to weak global markets for the postponement
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Singapore
A LACK of investor demand due to weak global market conditions has caused Del Monte Pacific, known for its pineapples and ketchup, to postpone an international offering of up to US$360 million worth of preference shares.
The offering was meant to refinance the company's bridge loan with Filipino bank BDO Unibank, which partially funded the company's US$1.7 billion acquisition of US company Del Monte Foods, which it was not related to, but shared the same name with.
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