GE Capital Finances $95MM for El Pollo Loco Franchisee
GE Capital Franchise Finance announced it provided a $95 million senior credit facility to JIB Management. A portion of the funding was provided by GE Capital’s bank affiliate, GE Capital Bank. GE Capital Markets acted as sole lead arranger and bookrunner and City National Bank was co-documentation agent.
JIB will use the majority of the funds to refinance existing debt. It will use the remainder to acquire and develop new El Pollo Loco restaurants in the San Antonio and Houston markets, and to develop Corner Bakery restaurants in the Las Vegas and Seattle markets.
“JIB’s executive management team has a wealth of combined operating experience and a solid history of acquisitions and restaurant development,” said Trey Brown, sales leader of GEFF. “We’re pleased to see a long-time customer growing and thriving.”