Checkers Drive-In plans new loan facility for buyout by Oak Hill

By Sara Rosenberg

New York, March 23 – Checkers Drive-In Restaurants Inc. expects to get a new loan facility to help fund its acquisition by Oak Hill Capital Partners from Sentinel Capital Partners in a transaction valued at about $525 million, according to a market source.

Jefferies Finance LLC is leading the debt.

Closing is expected in the second quarter, subject to HSR approval and other customary conditions.

Checkers is a Tampa, Fla.-based operator and franchisor of drive-thru hamburger quick-service restaurants.

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