B&G Foods details public offering of senior notes
January 8, 2010
by Eric Schroeder
PARSIPPANY, N.J. — B&G Foods, Inc., a manufacturer and distributor of shelf-stable foods such as hot cereals, fruit spreads, canned meats and beans, and spices, intends to offer $350 million aggregate principal amount of senior notes due 2018.
B&G Foods said it plans to use the proceeds of the offering to purchase its existing 12% senior subordinated notes due 2016 and 8% senior notes due 2011, pursuant to cash tender offers announced on Jan. 8, and to pay related premiums, fees and expenses. Any remaining net proceeds will be used for general corporate purposes, B&G Foods said.