Chiquita Brands International, Inc : Chiquita Brands International, Inc : Chiquita Announces Completion of Its Sale of $425

  Chiquita Brands International, Inc : Chiquita Brands International, Inc :
Chiquita Announces Completion of Its Sale of $425 Million Aggregate Principal
 Amount of 7.875% Senior Secured Notes and Refinancing of Its Senior Secured


CHARLOTTE - February 5, 2013 - Chiquita Brands International, Inc. (NYSE: CQB)
today announced the completion of its sale of $425 million of 7.875% senior
secured notes due 2021, and the entry into a new $200 million senior secured
credit agreement. The company also repaid all of the obligations under its
existing secured credit agreement and 7 1/2% Senior Notes.

The notes were offered in the United States to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act") and outside the United States to certain non-U.S. persons in
accordance with Regulation S under the Securities Act. The notes and the
related subsidiary guarantees have not been registered under the Securities
Act and may not be offered or sold in the United States without registration
or an applicable exemption from the registration requirements.

The notes were co-issued by Chiquita Brands L.L.C., the company's main
operating subsidiary, and unconditionally guaranteed at closing by each of the
company's existing direct and indirect domestic subsidiaries, other than de
minimis subsidiaries, and certain of the company's future direct and indirect
domestic subsidiaries. The notes and the guarantees are secured, subject to
certain exceptions and permitted liens, on a first-priority basis by the
issuers' and guarantors' existing and after-acquired material domestic real
estate, stock of certain subsidiaries, subject to limitations, and certain
intellectual property. Subject to certain permitted liens, the notes and the
guarantees will also be secured on a second-priority basis by a lien on the
assets that secure the new senior secured credit agreement on a first priority
basis, including substantially all of the issuers' and the guarantors' other
domestic assets, including present and future receivables, inventory and

The secured credit facility has a maximum borrowing capacity of $200.0
million, including a revolving credit facility and a $7.5 million term loan,
subject to a borrowing base calculation based on specified advance rates
against the value of the company's domestic accounts receivable, foreign
accounts receivable, certain inventory, and certain domestic machinery and
equipment. The facility is expected to mature at the earlier of five years
from the date of closing and 60 days prior to the maturity of our existing
4.25% Convertible Senior Notes due 2016, unless such notes have been
satisfactorily refinanced.

This press release is neither an offer to sell nor the solicitation of an
offer to buy the notes or any other securities and shall not constitute an
offer, solicitation or sale in any jurisdiction in which, or to any persons to
whom, such an offer, solicitation or sale is unlawful. Any offers of the notes
will be made only by means of a private offering memorandum.


Chiquita Brands International, Inc. (NYSE: CQB) is a leading international
marketer and distributor of nutritious, high-quality fresh and value-added
food products - from energy-rich bananas, blends of convenient green salads,
other fruits to healthy snacking products. The company markets its healthy,
fresh products under the Chiquita® and Fresh Express® premium brands and other
related trademarks. With annual revenues of more than $3 billion, Chiquita
employs approximately 20,000 people and has operations in approximately 70
countries worldwide.

Steve Himes, 980-636-5636,, (Investors & Analysts)
Tiffany Breaux, 980-636-5029,,(Media)


This press release contains certain statements that are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Chiquita, including:
challenges in implementing restructuring and leadership changes announced in
August and October 2012 including the company's ability to achieve the cost
savings and other benefits anticipated from the restructuring; challenges in
implementing the relocation of Chiquita's corporate headquarters, and other
North American corporate functions, to Charlotte, North Carolina; industry and
competitive conditions (all of which may be more unpredictable in light of
continuing uncertainty in the global economic environment), government
regulations, food safety issues and product recalls affecting the company or
the industry, labor relations, taxes, political instability and terrorism; the
customary risks experienced by global food companies, such as prices for
commodity and other inputs, currency exchange rate fluctuations; unusual
weather events, conditions or crop risks; the company's continued ability to
access the capital and credit markets on commercially reasonable terms and
comply with the terms of its credit agreements; access to and cost of
financing; and the outcome of pending litigation and governmental
investigations involving the company, as well as the legal fees and other
costs incurred in connection with these items.

Any forward-looking statements made in this press release speak as of the date
made and are not guarantees of future performance. Actual results or
developments may differ materially from the expectations expressed or implied
in the forward-looking statements, and the company undertakes no obligation to
update any such statements. Additional information on factors that could
influence Chiquita's financial results is included in its SEC filings,
including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K.


This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Chiquita Brands International, Inc via Thomson Reuters ONE
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