Wingstop closed a new $250 million senior secured credit facility with Wells Fargo Bank as administrative agent as part of the company’s recapitalization
The new five-year credit facility bears an initial interest rate of LIBOR + 275 bps and consists of a $100 million senior secured term loan with a 5% mandatory amortization and a $150 million senior secured revolving credit facility. The interest rate is subject to a grid with step downs of 25 basis points as leverage declines.
