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Free Writing Prospectus |
Filed Pursuant to Rule 433 |
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(To the Preliminary Prospectus |
Registration No. 333-160425 |
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Supplement dated January 11, 2010) |
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January 11, 2010 |
Pricing Term Sheet
7.625% Senior Notes Due 2018
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Issuer: |
B&G Foods, Inc. |
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Size: |
$350 million aggregate principal amount of 7.625% Senior Notes due 2018 |
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Maturity: |
January 15, 2018 |
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Coupon: |
7.625% |
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Price to Public: |
99.271% |
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Yield to Maturity: |
7.750% |
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Spread to Benchmark Treasury: |
T+ 417 basis points |
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Benchmark Treasury: |
UST 3.50% due February 15, 2018 |
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Interest Payment Dates: |
July 15th and January 15th, commencing July 15, 2010 |
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Record Dates: |
July 1st and January 1st |
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Make-whole call: |
At any time at a discount rate of Treasury plus 50 basis points |
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Optional Redemption: |
On or after January 15, 2014, the Company may redeem some or all of the notes at the following redemption prices: January 15, 2014: 103.813 January 15, 2015: 102.542 January 15, 2016: 101.271 January 15, 2017 and thereafter: 100.000 |
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Equity Clawback: |
Prior to January 15, 2013, the Company may redeem up to 35% of the aggregate principal amount at a redemption price of 107.625% |
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Trade Date: |
January 11, 2010 |
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Settlement: |
T + 9; January 25, 2010 |
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CUSIP / ISIN: |
05508R AD8 / US05508RAD89 |
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Ratings:* |
B2 / B+ |
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Gross Spread: |
2.000% |
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Joint Book-Running Managers: |
Credit Suisse Securities (USA) LLC (23.125%) |
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Barclays Capital Inc. (23.125%) |
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Banc of America Securities LLC (23.125%) |
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Goldman, Sachs & Co. (23.125%) |
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Co-Manager: |
RBC Capital Markets Corporation (7.500%) |
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.