B&G Foods to repay revolver, term loan debt with new note proceeds

By Tali Rackner

Norfolk, Va., March 29 – B&G Foods, Inc. plans to repay all of the outstanding borrowings under its revolving credit facility and all of the outstanding amounts due in respect of its tranche A term loans using the net proceeds from a new note offering, according to a press release.

The company intends to offer $500 million of senior notes due 2025.

Any remaining net proceeds will be used for general corporate purposes, which could include the repayment of other long-term debt or possible acquisitions.

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

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