Nomad Foods Announces Successful Repricing and Increase of Term Loan Facility

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.”