Formerly known as Upfield, the Dutch edible spreads business launched a €100 million add-on to its existing 6.875% senior secured notes at

In line with the sunny weather, the company decided to tap the strong primary market and launch a €400 million senior secured notes

Reports in the press on a proposed sale of Upfield at US$ 10 billion to an Abu Dhabi sovereign wealth fund (ADQ) which were cancelled were beyond

The company is launching further add-ons to their TLB. This doesn’t look transformative, but

Upfield has upsized its tap from earlier this week, in line with our previous comment. The new size is $215m fungible with the current Term

Upfield have launched a €100m tap to the previously extended facilities this morning.  In July, 79% of the €2.4bn facility was extended to January 2028

Upfield are holding an investor call today at 1:30 UK time on an amend and extend of its €, $ and £ term loan tranches, with the aim to

Further press reports on lower food inflation, with the FT citing “softening” butter prices due to a reduction in dairy producers’ costs. In Germany, prices are

Upfield have partially extended its Bank Loan Facilities, the RCF to October 2027 and Polish Zloty Term Loan Facilities to January 2028. However, the

Upfield completed the solicitation in order to reduce its Senior Secured 1st Lien debt, and has now reduced c.€250m of their Senior Debt, namely

Upfield released their Q3 trading statement, prior to their call later today (2pm UK time). Strong set of numbers with Gross Profit increasing to

Please find our updated model on Upfield here.

We published an update note prior to the conference call yesterday, Despite the Company not taking our questions (and some other analysts) the mood of the call was substantially different to their Q1 call in May. As part of the conference call, Upfield management shed some additional

Please find our first analysis of Upfield here.

In the current geopolitical and inflationary environment, it is easy to understand the cost pressures that Upfield are facing. Vegetable oils prices are at record high following the invasion of Ukraine. But the

Upfield hold their Q1 call later this afternoon after the release of their numbers yesterday evening. The trend continues of higher prices achieved, but at the cost of l