The Fiesta Restaurant Group entered a credit agreement agented by JPMorgan Chase for a revolving credit facility of up to $150 million.

According to a related 8-K filing, JPMorgan served as administrative agent and lender for the transaction. Wells Fargo served as syndication agent and a lender.

In connection with the loan agreement, Fiesta and the guarantors entered into a pledge and security agreement with JPMorgan Chase as administrative agent for the lenders party to the loan agreement.

The agreement replaces Fiesta’s previous credit agreement with Wells Fargo as administrative agent, which was terminated on November 30, 2017.

The loan agreement provides for a revolving credit facility of up to $150 million, including a sublimit of up to $15 million for letters of credit. The loan agreement also includes a feature that enables Fiesta to request incremental revolving credit borrowing increases of up to $50 million. The loan agreement matures on November 30, 2022. Fiesta used initial borrowings to repay outstanding revolving credit borrowings under the prior loan agreement, to pay related fees and expenses in connection with the loan agreement and for general corporate purposes.

Fiesta made a revolving credit borrowing in the amount of $75 million at closing.

Fiesta’s obligations under the agreement are secured by substantially all of the assets of Fiesta and the guarantors.