Del Frisco’s ups term B to $310 million, flexes to Libor plus 600 bps, up on break

By Sara Rosenberg

New York, Aug. 23 – Del Frisco’s Restaurant Group Inc. raised its term loan B to $310 million from $292 million and increased pricing to Libor plus 600 basis points from talk in the range of Libor plus 475 bps to 500 bps, according to a market source.

Also, the original issue discount on the term loan widened to 95 from 99 and the 101 soft call protection was extended to one year from six months, the source said.

The term loan still has a 0% Libor floor.

Once final terms were in place, the term loan made its way into the secondary market and levels were quoted at 95˝ bid, 96˝ offered, another source added.

J.P. Morgan Securities LLC and Citizens Bank are the leads on the deal.

Proceeds will be used to refinance debt used for the recent acquisition of Barteca Restaurant Group, a Norwalk, Conn.-based restaurant company.

Del Frisco’s is an Irving, Texas-based restaurant company.

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