Nomad Foods Secures €1.08 Billion Financing Package
European frozen food company Nomad Foods has finalized a €280 million revolving credit facility and an €800 million high-yield notes offering. The transaction aims to refinance existing debt and fund general corporate purposes. Greenberg Traurig advised Nomad Foods on the deal.
Nomad Foods, a leading European frozen food company, has successfully completed a significant financing transaction comprising a €280 million revolving credit facility (RCF) and an €800 million offering of high-yield notes.
The company intends to use the proceeds from this comprehensive financing to refinance existing debt and for general corporate purposes. This strategic financial move strengthens Nomad Foods' financial position and liquidity within the European market. Global law firm Greenberg Traurig, LLP acted as legal counsel to Nomad Foods throughout the transaction. Specific details regarding the banks involved in arranging the facility and offering have not been disclosed.
The new financing is expected to enhance the flexibility of the company's capital structure and ensure long-term financial stability. Nomad Foods is Europe's largest producer of frozen vegetables and fruits, owning well-known brands such as Birds Eye and Findus. The transaction is not anticipated to impact the company's operational activities or consumer brands.
Nomad Foods stated that the new credit facility and bond offering are designed to optimize interest expenses and extend the maturity profile of its outstanding debt, as part of its ongoing financial management strategy.