Portillo's enters $400M credit facility amendment; $250M term loan A and $150M revolver

Portillo's Inc.

New $250M term loan A facility and $150M revolving credit facility, both maturing January 27, 2030.
Proceeds used to refinance existing credit agreement and for general corporate purposes.
Interest rates based on SOFR plus spread of 2.00%-2.75% or base rate plus 1.00%-1.75%, dependent on leverage.
Principal amortization: 2.5% per year in first two years, 5% in years 3-4, 10% in year 5, with balance at maturity.
Facilities secured by substantially all assets of Portillo's and its guarantors; lenders include Fifth Third Bank, BofA, MUFG, Wells Fargo.

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