B&G Foods markets $450 million of notes as part of debt financing

By Cristal Cody

Tupelo, Miss., Sept. 10 – B&G Foods, Inc. intends to tap the junk bond market with a $450 million offering of senior notes as part of a debt financing package, a source said Tuesday.

The $900 million debt financing also includes a $450 million term loan B.

A lender call is scheduled for Tuesday.

Barclays is the left lead manager on the term loan.

Proceeds will be used to refinance the company’s existing 4 5/8% senior notes due 2021 and pay down a revolver draw.

Parsippany-Troy Hills, N.J.-based B&G Foods manufactures and distributes food and household products.

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