Related Issuers
by Stephen Carter
Jun 16, 2021 1:52 PM ET
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 today. 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).