Nomad Foods Announces Launch of Refinancing of Senior Secured Term Loan
Nomad Foods announced a refinancing initiative to replace its USD 960 million Term Loan B due in mid-2024 with a new USD 825 million seven-year term loan. The refinancing aims to cover the existing loan and will include meetings with lenders anticipated soon. However, the company has cautioned that there are no guarantees regarding the refinancing's completion or terms. This information is not an offer to sell or solicit securities.
Nomad Foods is a leading European frozen food company.
- Initiative to refinance existing USD 960 million Term Loan B, potentially improving financial structure.
- Uncertainty regarding the terms and completion of the refinancing.
FELTHAM, England, Oct. 31, 2022 /PRNewswire/ -- Nomad Foods Limited ("Nomad Foods" or the "Company") today announced the launch of an anticipated refinancing of its existing USD denominated Term Loan B of USD 960 million principal due mid 2024 (the "Existing Loan") with a USD 825 million seven-year term loan (the "Term Loan") with lender meetings anticipated to follow later this week (the "Refinancing"). The Company intends to use the net proceeds of the Refinancing to refinance its Existing Loan and use the balance of the proceeds for transaction expenses and general corporate purposes.
There can be no assurance that the Refinancing will occur, or, if it does, as to the terms of the Refinancing. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Nomad Foods
Nomad Foods (NYSE: NOMD) is Europe's leading frozen food company. The Company's portfolio of iconic brands, which includes Birds Eye, Findus, iglo, Ledo and Frikom, have been a part of consumers' meals for generations, standing for great tasting food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the United Kingdom. Additional information may be found at www.nomadfoods.com.
Enquiries
Investor Relations Contact
Anthony Bucalo
Nomad Foods Limited
+1-914-907-8724
Forward-Looking Statements
This press release contains ''forward-looking statements'' that are based on estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements are all statements other than statements of historical fact or statements in the present tense, and can be identified by words such as "targets", "aims", "aspires", "assumes" ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', "hopes", ''may'', ''would'', ''should'', "could", ''will'', ''plans'', ''predicts'' and ''potential'', as well as the negatives of these terms and other words of similar meaning. The forward-looking statements in this press release include, but are not limited to, expectations regarding the Company's ability to consummate the refinancing of its existing USD denominated Term Loan B and the expected terms thereof. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate, which may prove not to be accurate. The Company cautions that these forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in these forward-looking statements. Undue reliance should, therefore, not be placed on such forward-looking statements. Any forward-looking statements contained in this announcement apply only as at the date of this announcement and are not intended to give any assurance as to future results. The Company will update this announcement as required by applicable law, including the Prospectus Rules, the Listing Rules, the Disclosure and Transparency Rules, and any other applicable law or regulations, but otherwise expressly disclaims any obligation or undertaking to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
This press release constitutes a public disclosure of inside information by Nomad Foods Limited under Regulation (EU) 596/2014 (16 April 2014) and Implementing Regulation (EU) No 2016/1055 (10 June 2016). The person responsible for making this release on behalf of Nomad Foods Limited is Samy Zekhout, Chief Financial Officer.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.
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SOURCE Nomad Foods Limited
FAQ
What is the refinancing amount announced by Nomad Foods (NOMD)?
When is the existing Term Loan B of Nomad Foods due?
What will the proceeds from the refinancing be used for?
What are the risks associated with the refinancing announced by Nomad Foods (NOMD)?
