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Friday, March 31, 2023

Nomad Foods (NYSE: NOMD) Launch Senior Secured Notes Offering

Nomad Foods Limited (NYSE: NOMD) disclosed that it has commenced the offering of senior secured notes. The firm has shown its intention to provide €750.0 million aggregate principal amount of senior secured notes due 2028. The offering is dependent on the market and other customary conditions.

The Notes would be secured and held on a senior basis by the firm and certain of its subsidiaries. The firm is planning to utilize the net profit of the offering, along with the profit of an expected refinancing of its senior credit facilities, to refund in full its current outstanding euro denominated term loan and the Issuer’s existing €400.0 million aggregate principal amount senior secured notes due 2024.

The Issuer anticipate redeeming the Current Notes, dependent to the execution of the Offering and receipt of the profit laid down in paragraph. No guarantee can be provided that the Refinancing is scheduled for execution, or, if finalized, as in accordance with the terms and conditions on which it will be executed.

Furthermore, a notice of provisional conversion in full of regard to the Existing Notes will be issued by the Issuer through the information service of the Luxembourg Stock Exchange and additionally provided to the holders thereof via Euroclear Bank SA/NV and Clearstream Banking S.A.

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