B&G Foods, Inc. (NYSE:BGS) announced today that it has
completed its previously announced registered public offering of
$500.0 million aggregate principal amount of 5.25% senior notes due
2025. 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 tranche A term loans, 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
and Deutsche Bank Securities Inc. 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 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, 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’
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.
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