Franchise Group, an owner and operator of franchised businesses, upsized and completed its previously announced non-fungible add-on to its existing first lien term loan of $300 million. The company will use net proceeds from the transaction to pay down existing debt under the company’s ABL credit facility.
JPMorgan Chase Bank acted as lead left arranger of the financing, while UBS Investment Bank and Jefferies Finance acted as joint lead arrangers.
Franchise Group’s business lines include Pet Supplies Plus, Wag N’ Wash, American Freight, The Vitamin Shoppe, Badcock Home Furniture & More, Buddy’s Home Furnishings and Sylvan Learning.
