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Feltham, England, November 10, 2022 /PRNewswire/ — Nomad Foods Limited (“Nomad Foods” or the “Company”) US$700 million A term loan with an annual interest rate equivalent to the SOFR rate plus 3.75%; 130 million euros A term loan with an annual interest rate of EURIBOR plus 3.5% per annum. Both are due in his 2029 term (collectively, the “Term Loans”).
The net proceeds of the Term Loan were used to repay the Company’s existing loans. US$960 million Principal loan due 2024, plus transaction costs and general corporate purposes. Concurrent with these transactions, the Company terminated existing cross-currency interest rate swaps related to repaid loans and added new five-year cross-currency and interest rate swaps for new term loans.
Nomad Foods Chief Financial Officer Samy Zekhout said: With funding secured through 2028/2029 and strong free cash flow expected to continue, we are well positioned to take advantage of our capital allocation. Maximize shareholder value. ”
The Term Loans are guaranteed and secured by the Company and certain of its subsidiaries on a senior basis.
About Nomad Foods
Nomad Foods (NYSE: NOMD) European Frozen food giant. Our portfolio of iconic brands includes: bird’s eye, Findus, igloo, Ledo When Furicomhas been part of consumers’ diets for generations and is synonymous with convenient, high quality, nutritious and delicious food. Nomad Foods EnglandFor additional information, please visit www.nomadfoods.com.
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Anthony Bucaro
Nomad Foods Limited
+1-914-907-8724
Forward-Looking Statements
This press release contains “forward-looking statements” that are based on estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements are any statements other than statements of historical fact or statements in the present tense that are not statements of “aim,” “aim,” “aspire,” “assume,” “believe,” “estimate.” can be identified by words such as , “predict”, “expect”, “intend”, “hope”, “could”, “will”, “should”, “could”, “will Will’, ‘plan’, ‘predict’, and ‘potential’, as well as negatives of these terms and other words of similar meaning. Such forward-looking statements are based on a number of assumptions regarding our current and future business strategies and the environment in which we operate and may not be accurate. The forward-looking statements in this press release include expectations regarding our projected borrowing needs and related costs, our projected cash flows and our ability to leverage our capital allocation to maximize shareholder value. Including but not limited to: We caution that these forward-looking statements are not guaranteed and that actual results may differ materially from those expressed or implied in these forward-looking statements. . Therefore, undue reliance should not be placed on such forward-looking statements. The forward-looking statements contained in this announcement apply only as of the date of this announcement and are not guarantees of future results.
This press release constitutes the publication of inside information by Nomad Foods Limited under Regulation (EU) 596/2014 (April 16, 2014) and Implementing Regulation (EU) No 2016/1055 (June 10, 2016). Responsible for this release on behalf of Nomad Foods Limited is Samy Zekhout, Chief Financial Officer.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities. usa or to any jurisdiction or person where such offer, solicitation or sale is unlawful.
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