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Del Monte Corporation (DMC) lifts credit and L/C lines to $900M

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Del Monte Corporation (formerly Fresh Del Monte Produce Inc.) entered into Amendment No. 3 to its Second Amended and Restated Credit Agreement on July 15, 2026 with a syndicate of lenders and Bank of America, N.A. as administrative agent. Certain direct and indirect subsidiaries continue to guarantee obligations under the facility.

The amendment increases the aggregate Revolving Commitments from $750,000,000 to $900,000,000 and also increases the aggregate L/C Commitments from $750,000,000 to $900,000,000. It also amends and restates the definition of “Term SOFR” to remove the ten (10) basis points adjustment to SOFR and makes conforming changes to reflect the company’s name change and other administrative updates.

All other material terms of the credit agreement, originally dated October 1, 2019 and previously amended on December 30, 2022 and February 21, 2024, remain unchanged. The disclosure of a direct financial obligation and off-balance sheet arrangement is tied to these expanded revolving and letter of credit commitments.

Positive

  • None.

Negative

  • None.
Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revolving Commitments after amendment $900,000,000 Aggregate Revolving Commitments under the credit agreement following Amendment No. 3
Revolving Commitments before amendment $750,000,000 Prior aggregate Revolving Commitments increased by Amendment No. 3
L/C Commitments after amendment $900,000,000 Aggregate L/C Commitments under the credit agreement following Amendment No. 3
L/C Commitments before amendment $750,000,000 Prior aggregate L/C Commitments increased by Amendment No. 3
Term SOFR adjustment removed 10 basis points Ten (10) basis points adjustment to SOFR removed from the Term SOFR definition
Original credit agreement date October 1, 2019 Execution date of the Second Amended and Restated Credit Agreement
Amendment No. 3 date July 15, 2026 Execution date of Amendment No. 3 to the credit agreement
Revolving Commitments financial
"increases the aggregate Revolving Commitments (as defined in the Credit Agreement)"
L/C Commitments financial
"increases the aggregate L/C Commitments (as defined in the Credit Agreement)"
Term SOFR financial
"amends and restates the definition of “Term SOFR” to remove reference"
Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.
off-balance sheet arrangement financial
"Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement"
An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Del Monte Corporation (DMC) change in its credit facility on July 15, 2026?
Del Monte Corporation entered Amendment No. 3 to its credit agreement, increasing Revolving Commitments and L/C Commitments to $900,000,000 each and updating the definition of Term SOFR, while leaving other material terms unchanged.

How much revolving credit capacity does Del Monte Corporation (DMC) now have?
Del Monte Corporation’s aggregate Revolving Commitments under its amended credit agreement are now $900,000,000, increased from $750,000,000, providing a larger committed borrowing capacity from its lender group.

What happened to the L/C Commitments in Del Monte Corporation’s (DMC) amendment?
The amendment increases Del Monte Corporation’s aggregate L/C Commitments from $750,000,000 to $900,000,000, affecting the company’s letter of credit capacity, which is treated as an off-balance sheet arrangement linked to its credit facility.

How did Del Monte Corporation (DMC) modify Term SOFR in the amended credit agreement?
The amendment revises the definition of Term SOFR to remove the ten (10) basis points adjustment to SOFR, aligning the interest benchmark in the credit agreement with an unadjusted SOFR reference rate for applicable loans.

Which subsidiaries of Del Monte Corporation (DMC) are involved in the amended credit agreement?
Certain direct and indirect subsidiaries of Del Monte Corporation continue to guarantee obligations under the Second Amended and Restated Credit Agreement, as modified by Amendment No. 3 executed on July 15, 2026.

Does the Del Monte Corporation (DMC) amendment change other material terms of the credit agreement?
According to the disclosure, all other material terms of the credit agreement remain unchanged, aside from increased commitments, the revised Term SOFR definition, and administrative updates for the company’s name change.
0001047340false00010473402026-07-152026-07-15

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________________________________________________________________________________
FORM 8-K
____________________________________________________________________________________________________

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): July 15, 2026
__________________________________________________________________________________________________________
DEL MONTE CORPORATION
(Exact Name of Registrant as Specified in Charter)
__________________________________________________________________________________________________________
Cayman Islands333-07708N/A
(State or Other Jurisdiction of
Incorporation)		(Commission file number)(I.R.S. Employer Identification No.)

c/o H&C Corporate Services Limited
P.O. Box 1569, 6th Floor, Athena Tower, 71 Fort Street
George Town, Grand Cayman, KY1-1110
Cayman Islands
(Address of Registrant's Principal Executive Office)
(305) 520-8400
(Registrant’s telephone number including area code)
Please send copies of notices and communications from the Securities and Exchange Commission to:
c/o Del Monte Fresh Produce Company
241 Sevilla Avenue
Coral Gables, Florida  33134
(Address of Registrant's U.S. Executive Office)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Ordinary Shares, $0.01 Par Value Per ShareDMCNew York Stock Exchange


Item 1.01 Entry into a Material Definitive Agreement.

On July 15, 2026, Del Monte Corporation (f/k/a Fresh Del Monte Produce Inc.) (the “Company”) and certain of its subsidiaries entered into Amendment No. 3 to the Second Amended and Restated Credit Agreement (the “Third Amendment”) with the financial institutions and other lenders named therein, including Bank of America, N.A. as administrative agent (the “Administrative Agent”). The Third Amendment amended the Company’s Second Amended and Restated Credit Agreement, dated as of October 1, 2019, as amended by Amendment No. 1 dated as of December 30, 2022 and as amended by Amendment No. 2 dated as of February 21, 2024 (as previously amended, the “Credit Agreement”). Certain direct and indirect subsidiaries of the Company have guaranteed the obligations under the Credit Agreement.

The Third Amendment, among other things, (i) increases the aggregate Revolving Commitments (as defined in the Credit Agreement) from $750,000,000 to $900,000,000, (ii) increases the aggregate L/C Commitments (as defined in the Credit Agreement) from $750,000,000 to $900,000,000, (iii) amends and restates the definition of “Term SOFR” to remove reference to the ten (10) basis points adjustment to SOFR (as defined in the Credit Agreement) and (iv) makes conforming changes to reflect the Company’s name change and other administrative changes.

All other material terms of the Credit Agreement, as amended, remained unchanged. The foregoing summary of the material terms and conditions of the Third Amendment is qualified in its entirety by reference to the full text of the Third Amendment, a copy of which is filed as Exhibit 10.30A to this Current Report on Form 8-K.

The Company has other commercial relationships with certain parties to the Credit Agreement. Several of the lenders or their affiliates furnish general financing and banking services to the Company.

Item 2.03 Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit NumberExhibit Description
10.30A
Amendment No. 3 to the Second Amended and Restated Credit Agreement, dated as of July 15, 2026, by and among Del Monte Corporation, and certain subsidiaries named therein and the lenders and agents named therein.
104The cover page from this Current Report on Form 8-K, formatted in Inline XBRL







SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


Fresh Del Monte Produce Inc.
 
 
Date:July 21, 2026/s/ Monica Vicente
Monica Vicente
Senior Vice President and Chief Financial Officer


Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

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Agreements & Contracts

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