B&G Foods Closes $400.0 Million Public Offering of Senior Notes

11/20/17

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that it has completed its previously announced registered public offering of $400.0 million aggregate principal amount of 5.25% senior notes due 2025 at a price to the public of 101% of their face value plus accrued interest from October 1, 2017, which equates to a yield to worst of 5.03%. The notes have been issued as additional notes under the same indenture as B&G Foods’ 5.25% senior notes due 2025 that were originally issued on April 3, 2017 and, as such, form a single series and trade interchangeably with such previously issued notes. The notes are guaranteed on a senior unsecured basis by certain subsidiaries of B&G Foods.

B&G Foods used the net proceeds of the offering to repay all of the outstanding borrowings and amounts due under B&G Foods’ revolving credit facility and to pay related fees and expenses. B&G Foods intends to use the remaining net proceeds for general corporate purposes, which could include, among other things, repayment of other long term debt or possible acquisitions.

Barclays Capital Inc., BofA Merrill Lynch, RBC Capital Markets, LLC, BMO Capital Markets Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan acted as joint bookrunning managers, and Citizens Capital Markets, Inc., Rabo Securities USA, Inc. and TD Securities (USA) LLC acted as a co-managers.

About B&G Foods, Inc.

Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including Back to Nature, B&G, B&M, Cream of Wheat, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, Mrs. Dash, New York Style, Ortega, Pirate’s Booty, Polaner, SnackWell’s, Spice Islands and Victoria, there’s a little something for everyone.

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