b&g foods inc (BGS) Key Developments
B&G Foods, Inc. Amends and Restates Existing Senior Secured Credit Agreement
Oct 8 15
On October 2, 2015, B&G Foods Inc. amended and restated its existing senior secured credit agreement dated as of June 5, 2014, pursuant to an amendment agreement among B&G Foods, as borrower, the lenders party thereto, Credit Suisse AG, as existing administrative agent and existing collateral agent, and Barclays Bank PLC, as successor administrative agent and successor collateral agent. The amendment provides for an incremental $500.0 million tranche B term loan facility to be made available under the amended and restated credit agreement to finance a portion of the purchase price for the Green Giant shelf stable and frozen vegetable business that B&G Foods has agreed to purchase from General Mills. The amendment includes commitments for $500.0 million of tranche B terms loans from the lenders signatory thereto. The incremental tranche B term loans will be funded at the closing of the acquisition, which expect to occur during the fourth quarter of 2015. The amendment also provides: that Barclays Bank PLC will become administrative agent and collateral agent, replacing Credit Suisse AG; that the applicable margin in effect for the tranche A term loans will not be increased as a result of the funding of the tranche B term loans; and for certain other amendments to accommodate the Green Giant acquisition and to modify or remove certain restrictive covenants. The tranche A term loans mature on June 5, 2019 and are subject to amortization at the following rates: 5% in the first year, 7.5% in the second year, 10% in the third year, 12.5% in the fourth year and 65% in the fifth year. The tranche B term loans will mature on the seventh anniversary of the date of funding of the tranche B term loans and will be subject to amortization at the rate of 1% per year with the balance due and payable on the maturity date.
B&G Foods Inc., General Mills, Inc. - M&A Call
Sep 3 15
To discuss agreement to acquire the iconic Green Giant(R) and Le Sueur(R) brands
B&G Foods Inc. Presents at Barclays 2015 Global Consumer Staples Conference, Sep-08-2015 01:30 PM
Sep 2 15
B&G Foods Inc. Presents at Barclays 2015 Global Consumer Staples Conference, Sep-08-2015 01:30 PM. Venue: InterContinental Boston, Boston, Massachusetts, United States. Speakers: Robert C. Cantwell, Chief Executive Officer, President, Inside Director and Member of Strategy Committee, Thomas P. Crimmins, Chief Financial Officer and Executive Vice President of Finance.
B&G Foods Inc. Presents at 6th Annual Credit Suisse US Small & Mid Cap Conference 2015, Sep-16-2015 02:30 PM
Jul 29 15
B&G Foods Inc. Presents at 6th Annual Credit Suisse US Small & Mid Cap Conference 2015, Sep-16-2015 02:30 PM. Venue: The Waldorf Astoria New York, 301 Park Avenue (between 49th & 50th Streets), New York, New York, United States. Speakers: Thomas P. Crimmins, Chief Financial Officer and Executive Vice President of Finance.
B&G Foods Inc Increases Quarterly Dividend Payable on October 30, 2015
Jul 23 15
B&G Foods Inc. announced that its Board of Directors has increased quarterly cash dividend rate by 2.9% from $0.34 per share of common stock to $0.35 per share of common stock. The quarterly dividend declared is payable on October 30, 2015 to shareholders of record as of September 30, 2015.