Blue Merger, which is seeking a merger with Del Monte Foods, has raised $1.3 billion in a sale of senior notes in the 144a private placement market, Reuters reports. The size of the transaction was initially planned at $1.5 billion.
The entity affiliated with KKR, Vestar Capital Partners V and Centerview Capital appointed Bank of America Merrill Lynch, Morgan Stanley, Barclays and JP Morgan as the joint bookrunning managers for the deal. The notes carry a coupon rate of 7.625%, and are due to mature on Feb. 15, 2019.
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