debt
confidence high
sentiment neutral
materiality 0.65
B&G Foods to offer $500M senior secured notes due 2028; proceeds plus cash to redeem $555.4M of 5.25% notes due 2025
B&G Foods, Inc.
- B&G Foods to offer $500M senior secured notes due 2028; proceeds plus cash to redeem $555.4M of 5.25% notes due 2025
- Sold 6,332,846 shares via ATM for $75.3M gross ($11.90/share); used $19.5M to repurchase $20.2M of 5.25% notes due 2025
- Proposed credit amendment permits pari passu first lien debt; restricts available amount to $600M as of Q2 2023
- Post-ATM, 3.7M shares remain available; $855.4M of 5.25% notes due 2025 still outstanding