Key Developments: B&G Foods Inc (BGS)
29.85USD
24 May 2013
$-0.01 (-0.03%)
$29.86
$29.69
$30.00
$29.66
154,051
331,428
$33.14
$22.07
Latest Key Developments (Source: Significant Developments)
B&G Foods Inc Announces Pricing Of Public Offering Of Senior Notes
B&G Foods Inc announced the pricing of a registered public offering of $700.0 million aggregate principal amount of 4.625% senior notes due 2021 at a price to the public of 100% of their face value. The notes will be guaranteed on a senior unsecured basis by certain subsidiaries of B&G Foods. The offering is expected to close on June 4, 2013. B&G Foods estimates that the net proceeds from the offering will be approximately $687.8 million after deducting underwriting discounts and commissions and other fees and expenses related to the offering. B&G Foods intends to use the net proceeds of the offering to purchase all $248.5 million aggregate principal amount of its existing 7.625% senior notes due 2018 pursuant to a cash tender offer announced, or otherwise redeem the existing notes, to repay $222.2 million aggregate principal amount of tranche B term loans and approximately $40.0 million of revolving loans under B&G Foods` credit agreement, and to pay related premiums, fees and expenses. B&G Foods intends to use any remaining net proceeds for general corporate purposes, which may include the repayment of indebtedness and the acquisition of assets used or useful in, or the equity of an entity engaged in, B&G Foods` business or a related business. Credit Suisse Securities (USA) LLC, Barclays Capital Inc., RBC Capital Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Deutsche Bank Securities Inc. are acting as joint bookrunning managers. Full Article
B&G Foods Inc Announces Public Offering Of Senior Notes
B&G Foods Inc announced its intention to offer, subject to market and other conditions, $700.0 million aggregate principal amount of senior notes due 2021 (the Notes), pursuant to an automatic shelf registration statement filed with the Securities and the Exchange Commission. The Notes will be guaranteed on a senior unsecured basis by certain subsidiaries of B&G Foods. B&G Foods intends to use the proceeds of the offering to purchase all $248.5 million aggregate principal amount of its existing 7.625% senior notes due 2018 pursuant to a cash tender offer announced, or otherwise redeem the existing notes, repay $222.2 million aggregate principal amount of tranche B term loans and approximately $40.0 million of revolving loans under B&G Foods` credit agreement, and to pay related premiums, fees and expenses. B&G Foods intends to use any remaining net proceeds for general corporate purposes. Full Article
B&G Foods Inc Declares Regular Quarterly Dividend
B&G Foods Inc announced that Board of Directors has declared a regular quarterly cash dividend of $0.29 per share of common stock. The dividend is payable on July 30, 2013 to shareholders of record as of June 28, 2013. Full Article
B&G Foods Inc Raises FY 2013 EBITDA Guidance
B&G Foods Inc announced that it has increased its EBITDA guidance for fiscal 2013 to a range of approximately $180.0 million to $184.0 million. Full Article
B&G Foods Inc Announces Correction To Dividend Record Date
B&G Foods Inc announced that the record date for regular quarterly cash dividend of $0.29 per share of common stock payable on April 30, 2013 would be March 29, 2013. Due to the New York Stock Exchange being closed that day for Good Friday, the Company has corrected the record date to March 28, 2013. Full Article
B&G Foods Inc Declares Regular Quarterly Dividend
B&G Foods Inc announced that its Board of Directors has declared a regular quarterly cash dividend of $0.29 per share of common stock. The dividend is payable on April 30, 2013 to shareholders of record as of March 29, 2013 Full Article
B&G Foods Inc Issues FY 2013 EBITDA Guidance Below Analysts' Estimates
B&G Foods Inc announced that it expects to deliver fiscal 2013 adjusted EBITDA of $178.0 million to $182.0 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBITDA of $189.0 million for fiscal 2013. Full Article
B&G Foods Inc Completes Purchase Of New York Style And Old London Brands From Chipita America
B&G Foods Inc announced that it has completed the purchase of the New York Style and Old London brands from Chipita America, Inc. for the previously announced price of $62.5 million in cash, subject to a post-closing adjustment based upon working capital of the business at closing. The acquisition includes a manufacturing facility in Yadkinville, North Carolina, with approximately 250 employees. B&G Foods expects the acquisition to be immediately accretive to earnings per share and free cash flow. Full Article
B&G Foods Inc Raises Low End Of Prior FY 2012 EBITDA Guidance To A Range Below Analysts' Estimates
B&G Foods Inc announced that for fiscal 2012, it expects EBITDA be at the higher end of its prior guidance and range from approximately $168.0 million to $170.0 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $197 million for fiscal 2012. Full Article
B&G Foods Inc Increases Quarterly Dividend By 7.4%
B&G Foods Inc announced that its Board of Directors has increased the Company’s quarterly cash dividend rate by 7.4% from $0.27 per share of common stock to $0.29 per share of common stock. On an annualized basis, the dividend increases from $1.08 per share to $1.16 per share. The quarterly dividend declared is payable on January 30, 2013 to shareholders of record as of December 31, 2012. Full Article
BRIEF-B&G Foods shares down 8.3 pct after the bell following results
NEW YORK, Feb 14 - B&G Foods Inc : * Shares were down 8.3 percent after the bell following results
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