-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MWO5UNcmQU0dsnEtVgc7WCW0ayC4LAwpBVUGwaRKVohYbhPWmt3Bfqi5GyKpob5T w80h5S8lbrnB7uPNSDzvJA== 0001021408-02-003791.txt : 20020415 0001021408-02-003791.hdr.sgml : 20020415 ACCESSION NUMBER: 0001021408-02-003791 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020319 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020319 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHIQUITA BRANDS INTERNATIONAL INC CENTRAL INDEX KEY: 0000101063 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] IRS NUMBER: 041923360 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01550 FILM NUMBER: 02578478 BUSINESS ADDRESS: STREET 1: 250 E FIFTH ST CITY: CINCINNATI STATE: OH ZIP: 45202 BUSINESS PHONE: 5137848880 MAIL ADDRESS: STREET 1: CHIQUITA BRANDS INTERNATIONAL, INC. STREET 2: 250 EAST FIFTH STREET CITY: CINCINNATI STATE: OH ZIP: 45202 FORMER COMPANY: FORMER CONFORMED NAME: UNITED BRANDS CO DATE OF NAME CHANGE: 19900403 8-K 1 d8k.txt CURRENT REPORT FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): March 19, 2002 CHIQUITA BRANDS INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) New Jersey 1-1550 04-1923360 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 250 East Fifth Street, Cincinnati, Ohio 45202 (Address of principal executive offices) Registrant's telephone number, including area code: (513) 784-8000 INFORMATION TO BE INCLUDED IN THE REPORT Items 1, 2, 3, 4, 6, 8 and 9 are not applicable and are omitted from this Report. Item 5. Other Events. As previously reported, on November 28, 2001, Chiquita Brands International, Inc. (the "Company") filed a petition for reorganization under chapter 11 of the U.S. Bankruptcy Code, Case No. 01-18812, in the U.S. Bankruptcy Court for the Southern District of Ohio, Western Division, located in Cincinnati, Ohio (the "Bankruptcy Court") and on March 8, 2002, the Bankruptcy Court entered an order confirming the Company's Second Amended Plan of Reorganization (the "Plan"). None of the Company's direct or indirect subsidiaries were parties to the chapter 11 case or any related bankruptcy, reorganization or liquidation proceedings. The Plan became effective on March 19, 2002 (the "Effective Date"), at which time, pursuant to the Plan, the Company filed its Third Restated Certificate of Incorporation, filed as Exhibit 3.1 hereto, in New Jersey and began issuing (a) 40,000,000 shares of Common Stock, par value $.01 per share (of which 800,000 shares are subject to delayed delivery), (b) $250,000,000 of 10.56% Senior Notes due 2009 pursuant to an Indenture dated as of March 15, 2002 between the Company and Wells Fargo Bank Minnesota, National Association, as trustee and a certificate of terms, filed as Exhibits 4.1 and 4.2 hereto and (c) 13,333,333 warrants pursuant to a Warrant Agreement between the Company and American Security Transfer Company Limited Partnership, as warrant agent, filed as Exhibit 10.1 hereto; and all previously outstanding public debt and equity securities were cancelled. Reference is made to the Company's Press Release dated March 19, 2002, attached hereto as exhibit 99.1. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits 3.1 * Third Restated Certificate of Incorporation, incorporated by reference to Exhibit 1 to Form 8-A dated March 12, 2002. 4.1 * Indenture dated as of March 15, 2002 between the Company and Wells Fargo Bank Minnesota, National Association, as trustee, incorporated by reference to Exhibit 3 to Form 8-A dated March 12, 2002. 4.2 * Certificate of Actions Taken by the President of the Company Establishing the Terms of the Company's 10.56% Senior Notes due 2009, incorporated by reference to Exhibit 5 to Amendment No. 1 to Form 8-A dated March 18, 2002 10.1 * Warrant Agreement dated as of March 19, 2002 between the Company and American Security Transfer Company Limited Partnership, as warrant agent, incorporated by reference to Exhibit 4 to Amendment No. 1 to Form 8-A dated March 19, 2002 99.1 Press Release of the Company dated March 19, 2002. *Incorporated by reference. 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. Date: March 19, 2002 CHIQUITA BRANDS INTERNATIONAL, INC. By: /s/ William A. Tsacalis ------------------------------ William A. Tsacalis Vice President and Controller EX-99.1 3 dex991.txt PRESS RELEASE OF THE COMPANY DATED 3/19/2002 Exhibit 99.1 FOR IMMEDIATE RELEASE Chiquita Emerges From Pre-Arranged Chapter 11 With Solid Financial Structure CINCINNATI, OHIO, March 19, 2002-- Chiquita Brands International, Inc. announced today that it has emerged from its Pre-Arranged Chapter 11 restructuring as a healthy company with a solid financial structure. Today, the Company's Plan of Reorganization went into effect, only 111 days after its filing. The Plan had received overwhelming approval from all classes of the Company's security holders and had been confirmed by the Court on March 8. Under the Plan, the Company is issuing 40 million shares of new common stock, 13.3 million warrants for the purchase of new common stock, and $250 million of new 10.56% Senior Notes, all of which will begin trading on the New York Stock Exchange tomorrow, March 20. As stipulated in the Plan, Chiquita's new securities replace all prior public debt and equity securities issued by the Company. The Plan put into effect today has reduced the Company's debt and accrued interest by more than $700 million and its annual interest expense by about $60 million. Chiquita's other creditors and its assets, strategy and ongoing operations have been unaffected by the Chapter 11 process. Holders of Chiquita's old senior notes and preferred stock will receive their new Chiquita securities shortly. Holders of Chiquita's old subordinated debentures and common stock will need to submit their old certificates with a letter of transmittal in order to receive their new securities. The Company will begin sending letter of transmittal forms to these holders tomorrow. Further information about the terms of the Pre-Arranged Chapter 11 Plan of Reorganization can be found on the Company's website at www.chiquita.com or at ----------------- www.bmccorp.net. - --------------- Chiquita is a leading international marketer, producer and distributor of quality fresh fruits and vegetables and processed foods. 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, including the continued maintenance of the reforms agreed to by the U.S. and EU regarding the EU's banana import regime, the continuing availability of sufficient borrowing capacity or other financing to fund operations, capital spending and working capital requirements, the prices at which Chiquita can sell its products, the availability of and costs at which it can purchase or grow fresh produce and other raw materials, currency exchange rate fluctuations, natural disasters and unusual weather conditions, operating efficiencies, labor relations, actions of governmental bodies, and other market and competitive conditions, many of which are beyond the control of Chiquita. The forward-looking statements 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. # # # FOR FURTHER INFORMATION, PLEASE CONTACT: Jeff Zalla, Vice President, Corporate Communications (513) 784-8183, or William T. Sandstrom, Director of Investor Relations (513) 784-6366 -----END PRIVACY-ENHANCED MESSAGE-----