B&G Foods amends credit agreement to replace LIBOR with SOFR effective July 1, 2023

B&G Foods, Inc.

Sixth Amendment to credit agreement transitions interest rate benchmark from LIBOR to Term SOFR.
Amendment effective July 1, 2023, after LIBOR ceases to be representative.
No change to $1.55B aggregate commitments or other material terms of the credit agreement.
Required lenders did not object; all guarantors reaffirmed security interests.
Outstanding Eurodollar loans continue under existing terms until their interest period ends.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

B&G Foods, Inc. amended credit agreement with several banks and other financial institutions or entities from time to time party thereto as lenders and Barclays Bank PLC, as administrative agent and collateral agent (effective 2023-06-06).

Action: amendment
Agreement: credit facility
Counterparty: several banks and other financial institutions or entities from time to time party thereto as lenders and Barclays Bank PLC, as administrative agent and collateral agent
Effective: 2023-06-06

Exact text from the filing

On June 6, 2023, we amended our amended and restated credit agreement, dated as of October 2, 2015, and previously amended on March 30, 2017, November 20, 2017, October 10, 2019, December 16, 2020 and June 28, 2022, among B&G Foods, as borrower, the several banks and other financial institutions or entities from time to time party thereto as lenders and Barclays Bank PLC, as administrative agent and collateral agent.

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Source: SEC EDGAR

accession 0001104659-23-068576

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