Daily News: April 3, 2013

Paul Hastings Represents Dole in $650 Million Financing


Paul Hastings announced that the firm represented Dole Food Company, the world’s largest producer and marketer of fresh fruit and vegetables, in connection with its entry into a new credit facility. The financing consists of a $150 million revolving credit facility and a $500 million term facility with provisions for additional incremental loans.

The financing was related to Dole’s announced completion of the sale of its worldwide packaged foods and Asia fresh businesses to ITOCHU Corporation for $1.685 billion cash.

Of counsel Lindsay Sparks and Corporate partner Peter Tennyson led the Paul Hastings team, which also included Real Estate partner John Simonis and Leveraged Finance partner Michael Chernick and junior associate Michael Purtill.