B&G Foods announced today its plan to offer an additional $100.0 million aggregate principal amount of 8.000% senior secured notes due 2028, subject to market conditions and exempt from registration under the Securities Act of 1933, as amended.
These new senior secured notes will supplement the existing issuance under the September 26, 2023 indenture governing the 8.000% senior secured notes due 2028. They will be guaranteed on a senior secured basis by specified domestic subsidiaries of B&G Foods, securing a first-priority interest in collateral excluding real property and certain intangible assets.
The proceeds from the offering are intended to repay a portion of B&G Foods’ revolving credit loans under its senior secured credit agreement, along with associated fees and expenses. Completion of the offering is subject to market conditions and other factors.
The new senior secured notes and related guarantees will be offered to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S, exempt from registration under the Securities Act. They have not been registered under any securities laws and may not be offered or sold in the United States absent registration or an applicable exemption.
This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy these securities in any jurisdiction where such an offer or sale would be unlawful.
