Nomad Foods Announces Successful Repricing and Increase of Term Loan Facility
December 15 2017 - 7:19AM
Business Wire
Nomad Foods Limited (NYSE: NOMD) announced today that it will
reprice its $610 million and €500 million term loan facilities.
Closing is expected for December 20, 2017, subject to execution of
definitive agreements. Following the closing, the margin will be
reduced by 50 basis points on the U.S. dollar-denominated term loan
and 25 basis points on the euro-denominated term loan, which is
expected to result in approximately €4 million of annual cash
interest savings. The Company also announced that its term loan
facilities will be increased by $50 million and €58 million,
respectively, to be used for general corporate purposes. There are
no changes to the maturities as a result of this amendment.
Stefan Descheemaeker, Nomad Foods’ Chief Executive Officer,
stated, “Favorable capital market conditions and improved
operational performance in our business have helped fuel this
successful outcome. We continue to advance against our strategy and
are pleased to have even greater financial flexibility in driving
growth and creating shareholder value.”
About Nomad Foods Limited
Nomad Foods (NYSE: NOMD) is a leading 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. The
Company’s portfolio of leading frozen food brands includes Birds
Eye, Iglo and Findus. More information on Nomad Foods Limited is
available at http://www.nomadfoods.com.
Forward Looking Statements
This announcement 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 announcement are made based upon
the Company’s estimates, expectations and beliefs concerning future
events affecting the Company, including the expected signing and
closing date of the transaction, the expected margin reduction, the
expected annual cash interest savings and the expected amount of
the term loan facilities increase, and are subject to a number of
known and unknown risks and uncertainties. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171215005283/en/
Investor Relations ContactsNomad Foods LimitedTaposh
Bari, +1-718-290-7950CFAorICRJohn Mills,
+1-646-277-1254PartnerorMedia ContactWeber ShandwickLiz
Cohen,
+1-212-445-8044liz.cohen@webershandwick.comorhttp://www.nomadfoods.com
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