debt
confidence high
sentiment neutral
materiality 0.50
El Pollo Loco enters new $150M revolving credit facility, refinances 2018 facility
El Pollo Loco Holdings, Inc.
- New $150M senior secured revolver matures July 27, 2027; sublimits of $15M for letters of credit and swingline loans.
- Proceeds used to repay and terminate 2018 revolver; $20M drawn as of Aug 4, 2022.
- Interest at Term SOFR or base rate plus margin (1.25%-2.25% for SOFR, 0.25%-1.25% for base rate) per leverage grid.
- Obligations guaranteed by El Pollo Loco Holdings and Intermediate; secured by substantially all assets.