debt
confidence high
sentiment neutral
materiality 0.50
B&G Foods prices $550M 8.00% senior secured notes due 2028, upsized from $500M, to redeem 2025 notes
B&G Foods, Inc.
- $550M aggregate principal, 8.00% senior secured notes due 2028, priced at 99.502% of par.
- Offering upsized from previously announced $500M; expected closing date September 26, 2023.
- Net proceeds ~$538.6M, used with cash on hand to redeem $555.4M of 5.25% senior notes due 2025.
- Notes guaranteed by certain domestic subsidiaries and secured on a pari passu basis with existing credit agreement.