Domino's $685 million credit facility to launch next week

By Sara Rosenberg

New York, May 29 - Domino's Inc. is scheduled to launch a $685 million senior secured credit facility next week, according to a syndicate source. JPMorgan is the lead bank on the deal.

The facility consists of a $560 million seven-year term loan B and a $125 million six-year revolver. Price talk on the tranches has not come out yet since the syndicate is still waiting for ratings, the source said.

Security is a first priority lien on specified parcels of real property and tangible and intangible personal property, as well as a pledge of all of the company's capital stock, the capital stock of most of its material domestic subsidiaries and 65% of the capital stock of some of its foreign subsidiaries, according to a filing with the Securities and Exchange Commission.

The new facility is part of a recapitalization plan and will replace the company's existing senior secured credit facility that was entered into on July 29, 2002.

Domino's is an Ann Arbor, Mich. pizza chain.

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