B&G Foods To Sell 9M Shares In Public Offering

PARSIPPANY, N.J. (AP) — B&G Foods Inc. said Wednesday that it would sell 9 million shares of common stock in a public offering.

B&G plans to use the proceeds to possibly pay down debt, including its 8 percent senior notes due 2011 or its 12 percent senior subordinated notes due 2016.

The underwriters will have the option to buy an additional 1.35 million common shares.

Credit Suisse Securities, Barclays Capital and BofA Merrill Lynch are joint book-running managers. Goldman Sachs & Co. and RBC Capital Markets Corp. are co-managers.

B&G shares rose 28 cents, or 3 percent, to $9.72 in regular trading on Wednesday.