B&G Foods has announced plans to raise cash by issuing nine million new class A shares.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
At the company’s current share price, the offering could raise in the region of US$87.48m. B&G shares closed at $9.72 on the New York stock exchange yesterday (10 September).
In a statement, B&G Foods said proceeds would be used for “general corporate purposes”, including the repayment of a portion of B&G’s long-term debt, such as its 8% senior notes due 2011 or its 12% senior subordinated notes due 2016.
Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and BofA Merrill Lynch are acting as joint book-running managers, and Goldman, Sachs & Co. and RBC Capital Markets Corporation are acting as co-managers of the offering.
The company said that it also expected to grant the underwriters the option of issuing an additional 1.35m shares.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
