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Nomad Foods tightens $700 million term loan B-4 issue price to par
By Sara Rosenberg
New York, Sept. 14 – Nomad Foods LLC revised the issue price on its $700 million term loan B-4 due November 2029 to par from 99.5, according to a market source.
Pricing on the term loan B-4 remained at SOFR plus 300 basis points with a 0.5% floor.
The term loan B-4 still has 101 soft call protection for six months.
Expected term loan ratings are B1/BB-/BB+.
Jefferies LLC, Citigroup Global Markets Inc., JPMorgan Chase Bank and Santander are the lead arrangers on the deal.
Commitments continued to be due at noon ET on Thursday, the source added.
Proceeds will be used to reprice an existing $700 million term loan B-2 due November 2029 down from SOFR plus 375 bps with a 0.5% floor.
Nomad Foods is a U.K.-based frozen foods company.
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