B&G Foods Announces Proposed Credit Agreement Refinancing
March 20 2017 - 8:30AM
Business Wire
B&G Foods, Inc. (NYSE:BGS) announced today that it
intends to refinance existing indebtedness under its senior secured
credit facility by reducing the interest rate applicable to $640
million of tranche B term loans. The consummation of the
refinancing is subject to completion of definitive agreements as
well as customary closing conditions, and is subject to market
conditions. There can be no assurance that the refinancing will
occur, or, if it does, as to the terms of the refinancing.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy securities, nor shall there be any sale of securities in any
state or jurisdiction in which the offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, branded
shelf-stable and frozen foods across the United States, Canada and
Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’
products are marketed under many recognized brands, including
Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country
Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s,
Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc,
Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s,
Maple Grove Farms, Molly McButter, Mrs. Dash,
New York Flatbreads, New York Style, Old London,
Original Tings, Ortega, Pirate’s Booty, Polaner,
Red Devil, Regina, Sa-són, Sclafani, Smart Puffs,
Spice Islands, Spring Tree, Sugar Twin, Tone’s,
Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber
and Wright’s. B&G Foods also sells and distributes
Static Guard, a household product brand.
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 about the proposed
refinancing, including the prospects for consummating the proposed
refinancing transaction. 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.
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Investor Relations:ICR, Inc.Dara Dierks, 866-211-8151orMedia
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