The transaction, led by GE Capital, Franchise Finance, features new senior credit facilities which include a $175m term loan and a $40m revolving line of credit. Net proceeds were used to refinance the company’s existing senior credit facility and for a partial redemption of its senior subordinated debt.
Steven Brake, executive vice president and chief financial officer for Del Taco Holdings, said: “This transaction results in a significantly lower effective interest rate that enhances our capital structure, allowing for increased flexibility as we continue to invest in the business through growth in new and existing markets.”
Source: Del Taco Holdings
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