Nomad Foods to launch $700 million term loan B-4 on Friday

By Sara Rosenberg

New York, Sept. 7 – Nomad Foods LLC is scheduled to hold a lender call at 9 a.m. ET on Friday to launch a $700 million term loan B-4 due November 2029, according to a market source.

Jefferies LLC, Citigroup Global Markets Inc., JPMorgan Chase Bank and Santander are the lead arrangers on the deal.

Price talk on the term loan B-4 is SOFR plus 300 basis points with a 0.5% floor and an original issue discount of 99.5, the source said.

The term loan B-4 has 101 soft call protection for six months.

Expected term loan ratings are B1/BB-/BB+.

Commitments are due at noon ET on Sept. 14, the source added.

Proceeds will be used to reprice an existing $700 million term loan B-2 due November 2029 down from SOFR plus 375 bps with a 0.5% floor.

Nomad Foods is a U.K.-based frozen foods company.

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