Nomad Foods launches repricing of $693 million term loan due 2029 at SOFR plus 250 bps at par

By Paul A. Harris

Portland, Ore., April 22 – Nomad Foods US LLC launched a repricing of an approximately $693 million term loan B4 due November 2029 (B1/BB-/BB+) on a Monday lender call, according to a market source.

The new tranche, designated B5, features a 250 basis points spread to SOFR atop a 0.5% floor, at par.

The 101 soft call protection resets for six months.

Commitments are due at noon ET on Friday.

Jefferies is the left arranger. Credit Agricole and Rabo are the joint arrangers.

The borrower is a Feltham, U.K.-based frozen foods company.

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