Nomad Foods Announces Intent to Refinance Existing Leveraged Credit Facility



Nomad Foods Limited (NYSE: NOMD) today announced its intention to refinance its existing EUR 553 million preemptive credit facility with a new 7-year facility under its existing senior credit facility agreement. In addition, it intends to expand its existing Revolving Cash Flow Facility to a new 5-year Revolving Cash Facility by € 175 million. There can be no assurance that the refinancing will occur, or, if it does, regarding the terms of the refinancing.

In addition, Nomad is considering obtaining additional priority secured financing totaling up to € 750 million, subject to market conditions. Proceeds from such potential funding sources, including a new senior secured term loan and approximately € 290 million of cash on the balance sheet, are expected to be used by Nomad to (i) repay its entire aggregate principal amount of € 400 million on its senior secured notes. payable. By 2024 (including an optional repayment premium), (ii) repay the existing Euro Term Loan B, (iii) finance the acquisition of the Fortenova Group’s frozen food business group, and (iv) pay transaction fees and costs. After implementing the transactions and uses described in this document, Nomad expects its leverage ratio to be approximately 3.7x.

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation to buy securities, nor is it permitted to sell securities in any state or jurisdiction in which an offer, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nomad Foods

Nomad Foods (NYSE: NOMD) is a leading European frozen food company. The portfolio of the company’s iconic brands, which includes Bird’s Eye, Findus, Eagle, Aunt Bessie and Goodfell, have been part of consumer nutrition for generations, embodying the taste of food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the UK. More information can be found on the website

Forward-looking statements

This announcement contains “forward-looking statements” 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 may be identified with words such as “goals”, “goals”, “seeks”, “suggests” “believes”, “estimates”, ” expects’ ‘,’ ‘expects”, ” intends’ ‘,’ hopes’, ‘may’, ‘will be’ ‘,’ ‘should’ ‘,’ could ‘,’ will ‘, “Plans,” “foretells,” and “potential,” as well as the negative aspects of these terms and other words of similar meaning. Forward-looking statements contained in this announcement, including expectations regarding (i) the Company’s ability to complete refinancing of an existing senior secured loan and its expected maturity, (ii) the ability to realize the anticipated additional secured financing and their expected terms, and (iii) approximate leverage ratio, based on the estimates, expectations and beliefs of the Company regarding future events affecting the Company and are subject to a number of known and unknown risks and uncertainties. Such forward-looking statements are based on numerous assumptions about the current and future business strategies of the Company and the environment in which it will operate, which may not 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. Therefore, you should not place undue reliance on such forward-looking statements. Any forward-looking statements contained in this announcement are applicable only as of the date of this announcement and are not intended to provide any guarantees regarding future results. The company will update this announcement in accordance with the requirements of applicable law, including the Prospectus Rules, the Listing Rules, the Disclosure and Transparency Rules and any other applicable law or regulation, but otherwise expressly disclaims any obligation or obligation to update or revision of any forward-looking documents. a seeming statement, whether as a result of new information, future events, or otherwise.

This press release represents a public disclosure of inside information by Nomad Foods Limited pursuant to Regulation (EU) 596/2014 (April 16, 2014) and Executive Regulation (EU) No. 2016/1055 (June 10, 2016). The person responsible for this release on behalf of Nomad Foods Limited is Sami Zekhout, Chief Financial Officer.

This announcement does not constitute an offer to sell or solicit an offer to buy any security and does not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which or to any person to whom such an offer, solicitation or sale would be illegal …

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Nomad Foods
Investor relations
Tapos Bari, CFA
Nomad Foods Limited
+ 1-718-290-7950

John Mills
ICR, Partner
+ 1-646-277-1254

Felipe Ukros
Gladstone Place Partners
+ 1-212-230-5930


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