Nomad Foods expected to launch €500 million seven-year secured notes in week ahead

By Paul A. Harris

Portland, Ore., April 7 – Nomad Foods Ltd. is expected to launch €500 million of seven-year senior secured notes in the week ahead, according to a market source, who added that Goldman Sachs is expected to lead the deal.

Goldman sent out a save-the-date memo on Friday, the source said. Although no issuer was mentioned in the memo, the market is expecting the Nomad Foods bond deal to surface in that context, the source said.

Meanwhile, Nomad Foods is scheduled to hold a bank meeting in London on Monday and in New York on Tuesday to launch €1.05 billion-equivalent in senior secured credit facilities (expected ratings B1/BB-).

Goldman Sachs and UBS are the global coordinators on the U.S. loan and bookrunners with Credit Suisse and Deutsche Bank. Credit Suisse and Deutsche Bank are the physical bookrunners. Credit Suisse and Deutsche Bank are the physical bookrunners on the euro loan and bookrunners with Goldman Sachs and UBS.

Proceeds will be used to refinance in full the existing euro- and sterling-denominated term loans and floating-rate senior secured notes due 2020 and to pay related fees and expenses.

Nomad Foods is a Feltham, England-based frozen foods company.

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