GE Capital Agents Taco Bell Franchisee Debt Facility
GE Capital’s Franchise Finance business announced that it has provided $80 million in senior debt to BurgerBusters, a Taco Bell franchisee. GE Capital served as administrative agent and GE Capital Markets served as lead arranger and bookrunner on the transaction.
BurgerBusters will use the capital to refinance existing debt and to purchase some of its restaurant locations. Based in Virginia Beach, VA, it operates 83 Taco Bell restaurants.
“We have had a relationship with GE Capital since 2001. We value how well they understand the restaurant industry and apply that knowledge to help our business,” said Tassos Paphites, chairman / CEO of BurgerBusters.
“This transaction provided our customer with improved cash flow and flexibility to continue to grow,” said John Sullivan, senior vice president with GE Capital, Franchise Finance. “We look forward to working closely with them as they continue their development.”