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- B&G Foods (NYSE:BGS) priced an offering of an additional $250M aggregate principal amount of 8.000% senior secured notes due 2028.
- The new senior secured notes are being issued at a price of 100.5% plus accrued and unpaid interest from March 15, 2024.
- B&G Foods expects to reduce the size of its previously announced proposed amended tranche B term loans under its senior secured credit agreement from $600M to $450M aggregate principal amount.
- Net proceeds are expected to be ~$247.3M.
- Proceeds will be used to repay a portion of B&G Foods’ revolving credit loans and tranche B term loans under its senior secured credit agreement and pay related fees and expenses.
- The upsized offering is expected to close on July 12, 2024.