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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
CONS
PRCD
IGBOND
Nomad Foods Bondco PLC€750
1EMEA
Jun 16, 2021
currency
EUR
size (m)
750.000
maturity
Jun 24, 2028
type
Fixed
tenor
7.000
call
3.00
registration
144A/Reg S
benchmark
-
ranking
Sr. Secured
moody's
B1
s&p
BB-
fitch
BB+
size description
-
re-open/tap
No
ipt
high 2s
ipt-pxd
-
guidance
2.50-2.75%
spread
300
coupon
2.500%
spread set
-
price
100.00000
yield
2.500%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
-
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Redemption: 2024-06-24; Registration: 144A/Reg S;
Deal Comments
06/16/2021 Nomad Foods BondCo Plc (NOMD, IGBOND) EUR750m 144A/Reg S sr sec notes due 06/24/28 (7y). NC3 (MWC B+50bp), then at 101.25, 100.625, 100. Equity claw: 3y 40% at 102.50. B1/BB-/BB+ (stable/stable/stable). Via Citi (B&D)/DB jt physical books/MS jt glocos/BNP/CA/GS/Rabo jt books. No reg rights. List Lux. NY Law. Settles 06/24 (T+6). Reg S ISIN: XS2355604880. IPT: high 2s. Px talk: 2.50%-2.75%. Priced: 2.50% at 100. +300bp vs DBR 4.75% 07/04/28. Did investor call at 10am UKT 06/14, small group meetings 06/14-16. Books closed at 1:30pm UKT 06/16. UOP: along with a new EUR553.2m 7y term loan B via MS+ (also a new upsized EUR175m revolver), and EUR290m cash on hand, to refinance its existing EUR553m sr sec term loan B, redeem its EUR400m 3.25% sr sec notes due 05/15/24 (callable at 100.813), and fund the acquisition of Fortenovo Group's Frozen Food Business Group for EUR615m. Biz: Europe's leading frozen foods company (Birds Eye, Findus, iglo, Aunt Bessies and Goodfella's). HQ: Feltham, UK. (Acquisition announced 03/29/21).

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