B&G Foods to pay down revolver debt using proceeds from add-on notes

By Sarah Lizee

Olympia, Wash., Nov. 8 – B&G Foods, Inc. plans to repay all of the outstanding borrowings under its revolving credit facility using proceeds from a proposed $350 million add-on to its 5¼% senior notes due April 1, 2025, according to a press release.

The company intends to use the remaining net proceeds for general corporate purposes, which could include, among other things, repayment of other long-term debt or possible acquisitions.

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

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