Del Monte unveils $208.6m rights issue, clinches loan extension from BDO Unibank
It will issue over 641.9m shares for $0.325 each.
Del Monte has aims to raise $208.6m via a rights issue, after BDO Unibank allowed an extension of its US$350m bridge loan into a medium-term facility.
Del Monte last week shelved a $475m preference share sale, citing unfavourable market conditions.
The company will issue up to 641,935,335new ordinary shares at an issue price of$0.325 or Php10.60 for each rights share, on the basis of 493 rights shares for every 1,000 existing ordinary shares