B&G Foods Announces Public Offering of Senior Notes
November 08 2017 - 8:16AM
Business Wire
B&G Foods, Inc. (NYSE:BGS) announced today its intention to
offer, subject to market and other conditions, $350.0 million
aggregate principal amount of 5.25% 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 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.
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 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.
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; 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; Goldman
Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street,
New York, NY 10282, telephone:(866) 471-2526, facsimile:
212-902-9316, e-mail: prospectusgroup-ny@ny.email.gs.com; 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’
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.
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