Daily News: November 22, 2017

Barclays Agents $1.35B Refi for B&G Foods


B&G Foods completed the refinancing of its senior secured credit facility, increasing the principal amount of the tranche B term loans by $10 million to approximately $650 million and the aggregate commitments under its revolving credit facility from $500 million to $700 million.

The new facility reduces by 25 basis points the spread over LIBOR or the applicable base rate on the tranche B term loans and extends the maturity date applicable to the company’s revolving credit facility from June 2019 to November 2022.

According to a related 8-K filing, Barclays Bank served as administrative agent and collateral agent for the transaction. Barclays, RBC Capital Markets, Bank of America, Credit Suisse Securities, Deutsche Bank Securities and BMO Capital Markets were joint lead arrangers for the tranche B term loan.

Citizens Bank, TD Securities and Rabobank were co-syndication agents for the tranche B term loan.

Credit Suisse Securities, Barclays Bank, RBC Capital Markets, Bank of America, Merrill Lynch, TD Securities and Rabobank were joint lead arrangers and joint bookrunners with respect to the tranche A term loan facility and the revolving credit facility.

Barclays Bank, RBC Capital Markets, Bank of America, Merrill Lynch and Deutsche Bank Securities were co-syndication agents with respect to the tranche A term loan facility and the revolving credit facility.

Citizens Bank, TD Bank and Rabobank were co-documentation agents with respect to the tranche A term loan facility and the revolving credit facility.

Parsippany, NJ-based B&G Foods and its subsidiaries manufacture, sell and distribute branded shelf-stable and frozen foods across U.S., Canada and Puerto Rico. Brands include Cream of Wheat, Green Giant, Las Palmas, Le Sueur, Spice Islands and Victoria.