B&G Foods to repay revolving credit facility via common stock offering

By Tali Rackner

Norfolk, Va., March 9 – B&G Foods, Inc. plans to repay outstanding borrowings under its revolving credit facility with the proceeds from a common stock offering, according to a press release.

Proceeds will also be used for general corporate purposes, which could include, among other things, repayment of other long term debt or possible acquisitions. B&G Foods may re-borrow amounts under its revolving credit facility at any time.

The company plans to offer 4 million shares of its common stock with a 30-day greenshoe option for up to an additional 600,000 shares.

B&G Foods is a Parsippany, N.J.-based manufacturer, seller and distributor of shelf-stable foods.

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