Diamond Foods Announces Pricing of $230 Million Senior Note Offering
February 13 2014 - 11:42AM
Diamond Foods, Inc. (Nasdaq:DMND) announced today that it priced
its previously announced Rule 144A offering of senior unsecured
notes, entering into an agreement to sell $230 million aggregate
principal amount of 7.000% Senior Notes due 2019. The notes will
mature on March 15, 2019, and interest on the new notes will accrue
and be payable semi-annually on each March 15 and September 15,
commencing September 15, 2014.
The sale of the notes is expected to be completed on or about
February 19, 2014, subject to customary closing conditions. The
Company intends to use the net proceeds from this offering,
together with proceeds from its previously announced refinancing,
to repay outstanding indebtedness under the Company's existing
credit facility and to redeem its senior unsecured notes due 2020
held by Oaktree, including a prepayment premium.
The notes being sold by the Company will not be registered under
the Securities Act of 1933, as amended, or the Securities Act, or
under any state securities law and may not be offered or sold in
the United States absent registration or an applicable exemption
from registration under the Securities Act and applicable state
securities laws. The notes are being sold only to qualified
institutional buyers under Rule 144A and outside the United States
in compliance with Regulation S under the Securities Act. This
press release does not constitute an offer to sell any security and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offering would be unlawful.
About Diamond Foods
Diamond Foods is an innovative packaged food company focused on
building and energizing brands including Kettle® Chips, Emerald®
snack nuts, Pop Secret® popcorn, and Diamond of California® nuts.
Diamond's products are distributed in a wide range of stores where
snacks and culinary nuts are sold. For more information, visit the
Company's corporate web site: http://www.diamondfoods.com.
Note Regarding Forward-looking Statements
Statements included in this press release which are not
historical facts are forward looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and the Securities Exchange Act of 1934. These
forward-looking statements are based on our assumptions and
expectations only as of the date of this press release. We use the
words "anticipate," "believe," "estimate," "expect," "intend,"
"plan," "seek," "may" and other similar expressions to identify
forward-looking statements about our future expectations,
projections of future results or financial condition, or other
"forward-looking" information. You should carefully consider
cautionary statements in this press release and under the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the periodic
reports that we file from time to time with the SEC. We do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances occurring after the date of this
press release. Therefore, the actual results of operations or
financial condition of the Company could differ materially from
those expressed or implied in such forward looking statements.
CONTACT: Investors:
ICR
Katie Turner
415-230-7952
Media:
ICR
Anton Nicholas/Jessica Liddell
415-445-7431
(MM) (NASDAQ:DMND)
Historical Stock Chart
From Jun 2024 to Jul 2024
(MM) (NASDAQ:DMND)
Historical Stock Chart
From Jul 2023 to Jul 2024