Del Taco flexes pricing on $160 million term to Libor plus 550 bps

By Sara Rosenberg

New York, May 7 - Del Taco LLC (Sagittarius Restaurants LLC) increased pricing on its $160 million term loan to Libor plus 550 basis points from Libor plus 450 bps and raised the original issue discount to 97½ from the initial 98 to 99 guidance, according to a market source.

Also, call protection of 102 in year one and 101 in year two was added to the term loan, the source said.

As before, the term loan has a 2% Libor floor.

The $195 million five-year credit facility (B1/B) also includes a $35 million revolver.

Wells Fargo is the left lead bank on the credit facility, and GE Capital signed on as a co-lead.

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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