Del Taco to hold bank meeting Friday for $190 million credit facility

By Paul A. Harris

St. Louis, April 19 - Del Taco LLC will launch its $190 million credit facility at a bank meeting scheduled for 9:30 a.m. ET on Friday, according to an informed source.

Tranching on the deal is comprised of a $40 million revolver and a $150 million term loan, the source said.

Price talk on the term loan has been circulating in the Libor plus 450 basis points area with a 2% Libor floor and an original issue discount of 98 to 99.

Wells Fargo is the left lead bank on the deal.

Proceeds will be used to refinance existing debt.

Del Taco is a Lake Forest, Calif.-based operator and franchiser of restaurants.

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