Bumble Bee Holdco S.C.A. and Bumble Bee Foods S.à r.l. Announce Completion of a Refinancing of Long-Term Debt

SAN DIEGO, Aug. 18, 2017 /PRNewswire/ -- Bumble Bee Holdco, S.C.A., and its subsidiary, Bumble Bee Foods S.à r.l., today announced a refinancing of 100 percent of its debt.  The new debt structure, which was funded today, includes:

• Borrowing under a five-year term, $200 million asset-based revolving credit facility with Wells Fargo Capital Finance as Administrative Agent, and
• Issuance of a six-year term, $650 million term loan facility, with Brookfield Principal Credit as Lead Arranger and Administrative Agent.

In connection with the execution of these credit arrangements, notice of redemption was provided to the holders of the Company's 9% Senior Secured Notes and Senior Unsecured PIK Toggle Notes indicating that those notes would be called at par plus all related accrued and unpaid interest, on September 14, 2017. 

"We are very pleased to announce the refinancing of our debt which solidifies our capital structure for the next five years," said Kent McNeil, the Company's executive vice president and chief financial officer.  "The completion of this endeavour is a reflection of the long-standing financial consistency of the business and will provide a platform for the continued operation and growth of Bumble Bee going forward."  

About Bumble Bee
Bumble Bee Holdco S.C.A. owns Bumble Bee Foods S.à r.l. which owns Bumble Bee Foods, LLC and Connors Bros. Clover Leaf Seafoods Company. On a combined basis, they represent North America's largest branded shelf-stable seafood company. Bumble Bee and Clover Leaf offer a full line of canned and pouched tuna, salmon, sardine, and specialty protein products marketed in the U.S. under leading brands including Bumble Bee^®, Brunswick^®, Snow's^® and Beach Cliff^®, and in Canada under the Clover Leaf^® and Brunswick^® brands.

For more information on Bumble Bee, visit www.bumblebee.com.

About Brookfield
Brookfield Principal Credit is the corporate private credit business of Brookfield Asset Management, a leading global alternative asset manager with over $250 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on real estate, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively.

For more information, please visit our website at www.brookfield.com.

View original content:http://www.prnewswire.com/news-releases/bumble-bee-holdco-sca-and-bumble-bee-foods-sa-rl-announce-completion-of-a-refinancing-of-long-term-debt-300506756.html

SOURCE Bumble Bee Holdco S.C.A.