Nomad Foods reduces margin on €130 million term loan B by 75 bps

By Wendy Van Sickle

Columbus, Ohio, Feb. 5 – Nomad Foods LLC repriced its existing €130 million term loan B due 2029, according to a news release.

The margin will be reduced by 75 basis points to Euribor plus 275 bps, which is expected to result in about €1 million of annual cash interest savings.

There are no changes to the maturity of the term loan.

Closing occurred on Feb. 2.

“We are pleased with the results of our refinancing,” said Noam Gottesman, Nomad Foods’ co-chairman and founder, in the release. “We believe that this attractive repricing, coupled with our highly cash generative business model, continues to give us the financial flexibility to execute on our strategic objectives and drive strong shareholder returns.”

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

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