Nomad Foods Limited has arranged a USD 620 million term loan at SOFR plus 2.5 % per annum and a EUR 880 million term loan at EURIBOR plus 2.5 % per annum, both maturing in 2032. The company also extended its existing EUR 175 million revolving cash facility to 2032, providing additional liquidity flexibility for the next six years.
Net proceeds from the new term loans will be used to repay a USD 679 million Term Loan B, a EUR 130 million Term Loan B, and a EUR 553 million Term Loan B, cover transaction expenses, and support general corporate purposes. The loans are guaranteed and secured on a senior basis by Nomad Foods and certain subsidiaries, ensuring strong collateral coverage.
In Q2 2025, Nomad Foods reported revenue of €747 million, a 0.8 % decline, and an adjusted EPS of €0.40, down 9.1 % from the prior year. The company also announced a 13 % increase in its quarterly dividend to $0.17 per share, payable on November 26 2025, reflecting confidence in its cash‑flow generation. Net debt stood at €1.73 billion as of March 2025, with interest expenses of €109.1 million in 2024.
The company’s CEO‑elect, Dominic Brisby, will succeed Stéfan Descheemaeker at the start of 2026. Nomad Foods reiterated its 2025 guidance of flat to –2 % organic revenue growth and a decline in Adjusted EBITDA of 3 % to 7 %. The refinancing aims to extend debt maturities, secure attractive rates, and increase capital‑allocation flexibility amid inflationary pressures and competitive challenges.
Nomad Foods operates in over 22 European markets with brands such as Birds Eye, Findus, iglo, Ledo, and Frikom. The company focuses on innovation, premiumisation, and health‑oriented products to maintain its market position against private‑label and other branded competitors.
The financing arrangement was arranged by Citibank, Deutsche Bank, and Jefferies as Mandated Lead Arrangers and Physical Bookrunners, with BNP Paribas, Credit Agricole, Goldman Sachs, Morgan Stanley, NatWest, and Rabobank serving as additional Joint Bookrunners. The term loans are expected to close on November 10 2025.
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