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Actionable news in BGS: B&G FOODS Inc,

Entry into a Material Definitive

On October2, 2015, B&G Foods,Inc. amended and restated its existing senior secured credit agreement dated as of June5, 2014, pursuant to an amendment agreement among B&GFoods, 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&GFoods has agreed to purchase from General Mills. The amendment includes commitments for $500.0 million of tranc he B terms loans from the lenders signatory thereto. Subject to the satisfaction of customary conditions precedent set forth in the amended and restated credit agreement, the incremental tranche B term loans will be funded at the closing of the acquisition, which we 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 following is a summary of the credit agreement, as amended and restated:

As of October2, 2015, there are currently

$279.4 million of tranche A term loans outstanding. No tranche B term loans or revolving loans are currently outstanding. The available borrowing capacity under our revolving credit facility, net of outstanding letters of credit of $2.0 million, is currently $498.0 million. Proceeds of the revolving credit facility may be used for general corporate purposes, including acquisitions of targets in the same or a similar line of business as our company, subject to specified criteria. Proceeds of the tranche B term loans may be used to pay the purchase price and related costs and expenses for the

Green Giant

acquisition

. We are required to pay a commitment fee of 0.50% per annum on the unused portion of the revolving credit facility. The maximum letter of credit capacity under the revolving credit facility is $50.0 million, with a fronting fee of 0.25% per annum for all outstanding letters of credit and a letter of credit fee equal to the applicable margin for revolving loans that are Eurodollar (LIBOR) loans. The revolving loans mature on June5, 2019.

The tranche A term loans mature on June5, 2019 and are subject to amortization at...


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