GE Capital Leads Del Taco Debt Refi
Del Taco Holdings announced the completion of a debt refinance transaction, led by GE Capital. The financing features an amended senior credit facility with a $220 million term loan and a $40 million revolving line of credit. Incremental net proceeds raised were used for a partial redemption of its senior subordinated debt.
“This transaction results in a significantly lower effective interest rate and optimizes our capital structure, strengthens our financial performance and allows for increased financial flexibility,” said Steven Brake, executive vice president and chief financial officer, Del Taco Holdings. “We will continue to invest in new and existing markets, focus on our quality and value proposition, and introduce product innovations.”