Bumble Bee sells USD 220 million in bonds

By

SeafoodSource staff

Published on
December 13, 2009

Bumble Bee Foods LLC of San Diego sold USD 220 million (EUR 150.5 million) of notes on Thursday to refinance debt and lower borrowing costs.

According to a Bloomberg report, the 110-year-old seller of canned tuna and salmon, a unit of Connors Bros. Income Fund in Markham, Ontario, added at least USD 7.3 billion (EUR 5 billion) being marketed in the U.S. corporate bond market. The senior secured notes, due in 2015, may yield 8 percent to 8.25 percent.

Connors Bros. Income fund, which also owns the Brunswick and Clover Leaf canned seafood brands, is no longer a publicly traded company, as of November 2008. 

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