PARSIPPANY, N.J.--(BUSINESS WIRE)--Jun. 4, 2013--
B&G Foods, Inc. (NYSE: BGS) announced today that it has completed a
registered public offering of $700.0 million aggregate principal amount
of 4.625% senior notes due 2021. The notes are guaranteed on a senior
unsecured basis by certain subsidiaries of B&G Foods.
B&G Foods will use the net proceeds of the offering to purchase through
tender offer or redemption all $248.5 million aggregate principal amount
of its existing 7.625% senior notes due 2018, to repay $222.2 million
aggregate principal amount of tranche B term loans and approximately
$40.0 million of revolving loans under its credit agreement, and to pay
related premiums, fees and expenses. B&G Foods intends to use any
remaining net proceeds for general corporate purposes, which may include
the repayment of indebtedness and the acquisition of assets used or
useful in, or the equity of an entity engaged in, B&G Foods’ business or
a related business.
Credit Suisse Securities (USA) LLC, Barclays Capital Inc., RBC Capital
Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and
Deutsche Bank Securities Inc. acted as joint bookrunning managers, and
RBS Securities Inc. acted as a co-manager.
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 automatic shelf
registration statement previously filed with the Securities and Exchange
Commission.
Copies of the prospectus and the related prospectus supplement may be
obtained from the Securities and Exchange Commission’s website at www.sec.gov
or by contacting any of the joint bookrunning managers, including:
Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven
Madison Avenue, New York, NY 10010, by emailing [email protected]
or calling 800-221-1037; Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by emailing [email protected]
or calling 888-603-5847; or RBC Capital Markets, LLC, 3 World Financial
Center New York , NY 10281 or by calling 877-822-4089.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and distribute a
diversified portfolio of high-quality, branded shelf-stable 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,
Brer Rabbit, Cream of Rice, Cream of Wheat, Devonsheer,
Don Pepino, Emeril’s, Grandma’s Molasses, JJ Flats,
Joan of Arc, Las Palmas, Maple Grove Farms, Molly
McButter, Mrs. Dash, New York Style, Old London,
Ortega, Polaner, Red Devil, Regina, Sa-són,
Sclafani, Sugar Twin, Trappey’s, TrueNorth, Underwood,
Vermont Maid and Wright’s. B&G Foods also sells and
distributes two branded household products, Static Guard and Kleen
Guard.
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 included in this press release include,
without limitation, statements related to B&G Foods’ intended use of the
net proceeds of the 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 Annual Report on Form 10-K for fiscal 2012
filed on February 26, 2013. 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.
Source: B&G Foods, Inc.
ICR, Inc.
Investor Relations:
Don Duffy, 866-211-8151
or
Media
Relations:
Matt Lindberg, 203-682-8214
