B&G Foods, Inc. (NYSE:BGS) announced today its intention to
offer, subject to market and other conditions, $500.0 million
aggregate principal amount of senior notes due 2025 (the “Notes”),
pursuant to an effective shelf registration statement previously
filed with the Securities and Exchange Commission. The Notes will
be guaranteed on a senior unsecured basis by certain subsidiaries
of B&G Foods.
B&G Foods intends to use the proceeds of the offering to
repay all of the outstanding borrowings under B&G Foods’
revolving credit facility and all of the outstanding amounts due in
respect of B&G Foods’ tranche A term loans, and to pay related
fees and expenses. B&G Foods intends to use any remaining
net proceeds for general corporate purposes, which could include,
among other things, repayment of other long term debt or possible
acquisitions. However, there can be no assurances that the offering
of the Notes will be completed as described herein or at all.
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.
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 Barclaysprospectus@broadridge.com 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 dg.prospectus_requests@baml.com; RBC
Capital Markets, LLC, 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 newyork.prospectus@credit-suisse.com or calling
1-800-221-1037; and Deutsche Bank Securities Inc., 60 Wall Street,
New York, New York 10005-2836, Attention: Prospectus Group, by
emailing prospectus.cpdg@db.com or calling telephone (800)
503-4611.
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 related to B&G Foods’
intention to offer 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/20170329005661/en/
Investor Relations:ICR, Inc.Dara Dierks, 866-211-8151orMedia
Relations:ICR, Inc.Matt Lindberg, 203-682-8214
B and G Foods (NYSE:BGS)
Historical Stock Chart
From Apr 2024 to May 2024
B and G Foods (NYSE:BGS)
Historical Stock Chart
From May 2023 to May 2024