B&G Foods, Inc. announced on October 9, 2024, that it completed the redemption in full of all $265.4 million aggregate principal amount of its outstanding 5.25% senior notes due 2025. The redemption was executed at a cash price of 100.0% of the principal amount, plus accrued and unpaid interest.
The company funded this redemption using a combination of revolving loans from its existing credit facility and available cash on hand. This action is consistent with B&G Foods' ongoing efforts to manage its debt structure and reduce its overall long-term debt obligations.
This move aims to improve the company's financial flexibility by addressing near-term debt maturities. The reduction in outstanding senior notes is a direct step towards deleveraging the balance sheet.
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