Daily News: April 10, 2017

Credit Suisse, Deutsche, Goldman & UBS Mandated to Lead Nomad Refi


Nomad Foods launched a refinancing of its existing credit facility with two tranches of $500 million and approximately $510 million seven-year term loans with lender meetings anticipated to follow the week of April 10, 2017.

The company expects to follow any term loan syndication with an offering of $500 million in aggregate principal amount of senior secured notes also with an expected seven-year maturity, subject to market conditions.

Nomad Foods said Credit Suisse, Deutsche Bank, Goldman Sachs and UBS have been mandated to lead any financing.

Alongside the potential financing, Nomad Foods expects to extend out the maturity of its existing $80 million revolving credit facility by up to six years. Nomad Foods intends to use the proceeds of any consummated financing to refinance in full its existing outstanding euro and sterling denominated term loans and existing floating rate senior secured notes issued by Nomad Foods BondCo (formerly Iglo Foods BondCo) due 2020.

Nomad Foods is a frozen foods company building a global portfolio of best-in-class food companies and brands within the frozen category and across the broader food sector. Nomad Foods produces, markets and distributes brands in 17 countries and has the leading market share in Western Europe.