SG briefs: IREIT Global, Del Monte Pacific

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Singapore company briefs: IREIT Global and Del Monte Pacific.

IREIT Global

IREIT Global has set up a US$1 billion multicurrency debt issuance program, with any securities issued under the program to be offered in Singapore, the REIT said in a filing to SGX Tuesday.

DBS Bank and OCBC were appointed as joint arrangers and dealers of the program, the filing said.

Del Monte Pacific

Del Monte Pacific‘s U.S. subsidiary Del Monte Foods has refinanced its senior secured notes after raising US$600 million in a seven-year floating-rate term loan B facility maturing in 2029, the company said in a filing to SGX Tuesday. The floating rate has a floor of 0.5 percent plus 4.25 percent per annum, the filing said.

The proceeds will mainly be used to redeem the US$500 million senior secured notes, which had an interest rate of 11.875 percent and were due in 2025, the filing said.

The refinancing is expected to result in around US$20 million to US$30 million of pre-tax interest savings a year, Del Monte Pacific said.