Del Monte Foods Company Reports Remaining 9 1/4% Notes to Be Redeemed on May 15, 2006.SAN FRANCISCO -- Del Monte Foods Del Monte Foods (NYSE: DLM) is an American food production and distribution company based in San Francisco, California. It offers canned goods in Del Monte, S&W and Contadina brands, pet foods under Kibbles n' Bits, 9Lives, Pounce, Milk-Bone and several premium brands, Company (NYSE NYSE See: New York Stock Exchange : DLM See ILM. DLM - Distributed Lock Manager on distributed VMS systems. ) today announced that its wholly-owned subsidiary Del Monte Corporation has elected to redeem the remaining outstanding $2,537,000 principal amount of its 9 1/4% senior subordinated notes due 2011 (the "Notes") in accordance with their terms. Del Monte Foods Company is a guarantor of the obligations of Del Monte Corporation under the Notes. Del Monte has requested that the Trustee with respect to the Notes mail a notice of redemption to each holder of the Notes. The Notes will be redeemed on May 15, 2006 (the "Redemption Date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. ") at a price equal to 104.625% per $1,000 principal amount of Notes plus accrued and unpaid interest thereon to the Redemption Date (provided that installments of interest which are due and payable on May 15, 2006 shall be payable to those persons who were holders of record on the close of business on April 30, 2006). Del Monte Foods Del Monte Foods is one of the country's largest and most well known producers, distributors and marketers of premium quality, branded and private label food and pet products for the U.S. retail market, generating over $3 billion in net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in fiscal 2005. With a powerful portfolio of brands including Del Monte(R), Contadina(R), StarKist(R), S&W(R), College Inn(R), 9Lives(R), Kibbles 'n Bits Kibbles 'n Bits is a brand name of dog food manufactured and marketed by Del Monte Foods. It was originally created in 1981 as the first dual textured dog food, having soft chewy pieces as well as hard crunchy ones. In 1995, the brand was acquired by Del Monte. (R), Pup-Peroni(R), Snausages(R), Pounce(R) and Meaty Bone(R), Del Monte products are found in nine out of ten American households. For more information on Del Monte Foods Company (NYSE:DLM), visit the Company's website at www.delmonte.com. |
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