PARSIPPANY, N.J.--(BUSINESS WIRE)--Nov. 8, 2017--
B&G Foods, Inc. (NYSE:BGS) announced today the pricing of a registered
public offering of $400.0 million aggregate principal amount of 5.25%
senior notes due 2025 at a price to the public of 101% of their face
value. The offering has been upsized from the previously announced
amount of $350.0 million. The Notes will be issued as additional notes
under the same indenture as B&G Foods’ 5.25% senior notes due 2025 that
were originally issued on April 3, 2017 and, as such, will form a single
series and trade interchangeably with such previously issued notes. The
notes will be guaranteed on a senior unsecured basis by certain
subsidiaries of B&G Foods. The offering is expected to close on November
20, 2017, subject to customary closing conditions.
B&G Foods estimates that the net proceeds from the offering will be
approximately $398 million after deducting underwriting discounts and
other fees and expenses related to the offering. B&G Foods intends to
use the net proceeds of the offering to repay all of the outstanding
borrowings under B&G Foods’ revolving credit facility and to pay related
fees and expenses. B&G Foods intends to use the remaining net proceeds
for general corporate purposes, which could include, among other things,
repayment of other long term debt or possible acquisitions.
Barclays Capital Inc., BofA Merrill Lynch, RBC Capital Markets, LLC, BMO
Capital Markets Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank
Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan are acting as
joint bookrunning managers, and Citizens Capital Markets, Inc., Rabo
Securities USA, Inc. and TD Securities (USA) LLC are acting as a
co-managers.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a prospectus
and the related prospectus supplement included as part of an effective
shelf registration statement previously filed with the Securities and
Exchange Commission.
Interested persons may obtain copies of the prospectus and the related
prospectus supplement from the Securities and Exchange Commission’s
website at www.sec.gov
or by contacting any of the joint bookrunning managers, including:
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, by emailing [email protected]
or calling 888-603-5847; BofA Merrill Lynch, NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus
Department, by emailing [email protected];
RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY
10281-8098, Attn: Attn: DCM Transaction Management, by calling (866)
375-6829; BMO Capital Markets Corp., 3 Times Square, New York, NY 10036,
Attn: High Yield Syndicate, by calling (212) 702-1882; Credit Suisse
Securities (USA) LLC, One Madison Avenue, New York, NY 10010, Attn:
Prospectus Department, by emailing [email protected]
or calling 1-800-221-1037; Deutsche Bank Securities Inc., 60 Wall
Street, New York, New York 10005-2836, Attention: Prospectus Group, by
emailing [email protected]
or calling telephone (800) 503-4611; Goldman Sachs & Co. LLC, Attn:
Prospectus Department, 200 West Street, New York, NY 10282,
telephone:(866) 471-2526, facsimile: 212-902-9316, e-mail: [email protected];
and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, toll-free: (866) 803-9204.
About B&G Foods, Inc.
Based in Parsippany, New Jersey, B&G Foods and its subsidiaries
manufacture, sell and distribute high-quality, branded shelf-stable and
frozen foods across the United States, Canada and Puerto Rico. With
B&G Foods’ diverse portfolio of more than 50 brands you know and love,
including Back to Nature, B&G, B&M, Cream
of Wheat, Green Giant, Las Palmas, Le Sueur,
Mama Mary’s, Maple Grove Farms, Mrs. Dash,
New York Style, Ortega, Pirate’s Booty,
Polaner, SnackWell’s, Spice Islands and Victoria,
there’s a little something for everyone.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.” The
forward-looking statements contained in this press release include
without limitation statements related to B&G Foods’ offer of senior
notes and the use of proceeds of such offering. Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of B&G Foods to be materially different from the historical
results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that
explicitly describe such risks and uncertainties readers are urged to
consider statements labeled with the terms “believes,” “belief,”
“expects,” “projects,” “intends,” “anticipates” or “plans” to be
uncertain and forward-looking. The forward-looking statements
contained herein are also subject generally to other risks and
uncertainties that are described from time to time in B&G Foods’ filings
with the Securities and Exchange Commission, including under Item 1A,
“Risk Factors” in the Company’s most recent Annual Report on Form 10-K
and in its subsequent reports on Forms 10-Q and 8-K. Investors
are cautioned not to place undue reliance on any such forward-looking
statements, which speak only as of the date they are made. B&G Foods
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171108006689/en/
Source: B&G Foods, Inc.
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