B&G may buy back some 8%, 12% notes with proceeds from stock sale

By Susanna Moon

Chicago, Sept. 9 - B&G Foods, Inc. said it may retire some of its long-term debt, including its 8% senior notes due 2011 or its 12% senior subordinated notes due 2016.

Funding will come from an offering of common stock.

B&G Foods said on May 6 that its board approved an increase for the company's previously authorized program to repurchase class A common stock and 8% senior notes to up to $25 million from $10 million.

B&G Foods has $240 million of the notes outstanding.

The company is a Parsippany, N.J., manufacturer and distributor of shelf-stable branded food products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.