Jack’s Family Restaurants to launch $260 million facility on June 16

By Sara Rosenberg

New York, June 8 – Jack’s Family Restaurants is set to hold a bank meeting on June 16 to launch a $260 million credit facility, according to a market source.

RBC Capital Markets and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.

The facility consists of a $30 million revolver and a $230 million first-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Onex Corp.

Leverage will be 4.1 times, the source added.

Jack’s is a Homewood, Ala.-based quick-service restaurant operator.

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