Nomad Foods Upsizes RCF by €105M to €280M, Closes €800M Bond Refinancing
NOMD sits 38% above its 52-week low of $8.99.
Summary
Nomad Foods has increased its revolving credit facility by €105 million to €280 million, alongside the previously announced €800 million senior secured notes offering due 2033. The RCF upsize provides additional liquidity and financial flexibility, complementing the bond refinancing that pushes out maturities from 2028 to 2033. This follows the July 22 pricing of the notes and the July 20 preliminary Q2 results that showed better-than-expected performance. The transaction strengthens the balance sheet and extends the debt maturity profile, reducing near-term refinancing risk.
At the time of this announcement, NOMD was trading at $12.41 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $8.99 to $17.71. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.