B&G Foods Announces Partial Redemption of 7.625% Senior Notes due 2018
PARSIPPANY, N.J. -- November 27, 2012
B&G Foods, Inc. (NYSE: BGS) announced today that it has issued a notice of
partial redemption for $101.5 million principal amount of its outstanding
7.625%senior notes due 2018 at a cash redemption price of 107.625% of the
principal amount of the notes being redeemed, plus accrued and unpaid interest
on such amount, to, but excluding, the redemption date of December 28, 2012.
Upon completion of the redemption, $248.5 million principal amount of the
notes will remain outstanding.
Interest on the redeemed portion of the notes will cease to accrue on and
after December 28, 2012. The only remaining right of the holders thereof shall
be to receive payment of the redemption price (together with the accrued and
unpaid interest on such amount).
A notice of partial redemption will be sent by The Bank of New York Mellon,
the trustee for the notes, to the registered holders of the notes. Copies of
the notice of partial redemption and additional information relating to the
procedure for redemption may be obtained from The Bank of New York Mellon at
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and distribute a diversified
portfolio of high-quality, shelf-stable foods across the United States, Canada
and Puerto Rico. B&G Foods’ products include hot cereals, fruit spreads,
canned meats and beans, spices, seasonings, marinades, hot sauces, wine
vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco
shells and kits, salsas, pickles, peppers and other specialty food products.
B&GFoods competes in the retail grocery, food service, specialty, private
label, club and mass merchandiser channels of distribution. Based in
Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized
brands, including Ac’cent, B&G, B&M, Baker’s Joy, BrerRabbit, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Emeril’s, Grandma’s Molasses,
JJFlats, Joanof Arc, Las Palmas, Maple Grove Farms, MollyMcButter,
Mrs.Dash, New York Style, Old London, Ortega, Polaner, Red Devil, Regina,
Sa-són, Sclafani, SugarTwin, Trappey’s, Underwood, VermontMaid and Wright’s.
B&G Foods also sells and distributes two branded household products, Static
Guard and Kleen Guard.
Statements in this press release that are not statements of historical or
current fact constitute “forward-looking statements.” Such forward-looking
statements involve known and unknown risks, uncertainties and other unknown
factors that could cause the actual results of B&GFoods to be materially
different from the historical results or from any future results expressed or
implied by such forward-looking statements. In addition to statements that
explicitly describe such risks and uncertainties readers are urged to consider
statements labeled with the terms “believes,” “belief,” “expects,” “projects,”
“intends,” “anticipates” or “plans” to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject generally to
other risks and uncertainties that are described from time to time in B&G
Foods’ filings with the Securities and Exchange Commission, including under
Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for fiscal
2011 filed on February 28, 2012. B&GFoods undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
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