debt
confidence high
sentiment neutral
materiality 0.70
B&G Foods, Inc. (BGS): debt financing — B&G Foods closes $475M 11% senior notes offering; to redeem $509M 5.25% notes due 2027
B&G Foods, Inc.
- $475M of 11.00% senior notes due 2031 issued at 97.67% of face value; maturity June 15, 2031.
- Proceeds used with revolver borrowings and cash to redeem $509.3M of 5.25% notes due 2027.
- Interest payable semiannually on June 15 and Dec 15, commencing Dec 15, 2026.
- Redemption prices: 105.5% (2028), 102.75% (2029), 100% (2030+); make-whole option before June 15, 2028.
- Notes are unsecured senior obligations; guaranteed by certain domestic subsidiaries; covenants restrict debt and dividends.