Nomad Foods to Offer €800M Senior Secured Notes for Refinancing
Nomad Foods announced preliminary second quarter 2026 results and plans for a significant debt refinancing. The company's indirect subsidiary, Nomad Foods Bondco Plc, intends to offer €800.0 million senior secured notes due 2033 to refinance existing notes due 2028. Additionally, the company expects to increase its revolving credit facility by €105.0 million. For Q2 2026, Nomad Foods anticipates a 2.5-3.5% decline in reported and organic revenue, with Adjusted EBITDA between €120-€126 million. The company reiterated its full-year organic revenue, Adjusted EBITDA, and Adjusted Free Cash Flow conversion guidance, but is evaluating its full-year EPS guidance due to the anticipated debt refinancing activities and associated interest expense.
Key Highlights
- Nomad Foods Bondco Plc intends to offer €800.0 million senior secured notes due 2033.
- Proceeds from the new notes will refinance existing €800.0 million senior secured notes due 2028.
- Company expects to increase revolving credit facility commitments by €105.0 million to €280.0 million.
- Preliminary Q2 2026 reported and organic revenue expected to decline by 2.5-3.5%.
- Preliminary Q2 2026 Adjusted EBITDA expected to be €120-€126 million.
- Preliminary Q2 2026 closing cash and cash equivalents balance of approximately €273 million.
- Full-year 2026 organic revenue guidance reiterated to decline by 2%-5%.
- Full-year 2026 Adjusted EBITDA guidance reiterated to decline by 5%-10%.
Price Impact
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