PARSIPPANY, N.J.--(BUSINESS WIRE)--Nov. 20, 2017--
B&G Foods, Inc. (NYSE:BGS) announced today that it has completed its
previously announced 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 plus accrued interest from
October 1, 2017, which equates to a yield to worst of 5.03%. The notes
have been 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, form a single series and trade interchangeably
with such previously issued notes. The notes are guaranteed on a senior
unsecured basis by certain subsidiaries of B&G Foods.
B&G Foods used the net proceeds of the offering to repay all of the
outstanding borrowings and amounts due 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 acted as joint
bookrunning managers, and Citizens Capital Markets, Inc., Rabo
Securities USA, Inc. and TD Securities (USA) LLC acted 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 was 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’ intended use of
proceeds of the offering of senior notes. 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/20171120006114/en/
Source: B&G Foods, Inc.
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