Nomad Foods Has Repriced Its Existing Term Loan B Of $700M Principal Due 2029, The Margin On The Term Loan Will Be Reduced By 75 Basis Points, Which Is Expected To Result In Approximately €5M Annual Cash Interest Savings
Portfolio Pulse from Benzinga Newsdesk
Nomad Foods has repriced its existing Term Loan B of $700M principal due 2029. The margin on the term loan will be reduced by 75 basis points, which is expected to result in approximately €5M annual cash interest savings.
September 18, 2023 | 10:50 am
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Nomad Foods has repriced its Term Loan B, reducing the margin by 75 basis points. This is expected to result in approximately €5M annual cash interest savings.
The repricing of Nomad Foods' Term Loan B will reduce the company's interest expenses, which could improve its net income and cash flow. This could be viewed positively by investors, potentially leading to an increase in the company's stock price in the short term.
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