Fogo de Chao readies launch of $275 million credit facility for Monday

By Sara Rosenberg

New York, June 14 - Fogo de Chao Churrascaria (Holdings) LLC is scheduled to hold a bank meeting at 10 a.m. ET on Monday in New York to launch a proposed $275 million credit facility, according to a market source.

J.P. Morgan Securities LLC and Jefferies Finance LLC are leading the deal.

The facility consists of a $25 million five-year revolver, a $180 million seven-year first-lien term loan and a $70 million 71/2-year second-lien term loan, the source said.

Proceeds will be used to help fund the acquisition of the company by Thomas H. Lee Partners LP from GP Investments Ltd.

Closing on the buyout is expected in the third quarter, subject to regulatory approvals and other customary conditions.

Fogo de Chao is a Dallas-based steakhouse chain in the United States and Brazil.

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