Nomad Foods lays out refinancing plan

The Findus and Iglo Group parent plans to use funds to repay debt.

Frozen food giant Nomad Foods announced Friday that it priced its private offering of €400 million ($428.3 million) aggregate principal amount of 3.25 percent senior secured notes due in 2024.

In connection with the refinancing of its existing senior credit facilities, Nomad said it expects to increase the term loads to €500 million ($610 million), both with maturity dates extending to May 2024.

Nomad plans to use net proceeds of the refinancing to repay its existing senior debt. The refinancing is expected to close on May 3.

Nomad Foods' portfolio includes Birds Eye, Iglo Group and Findus.

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