Fogo de Chao talks $550 million term loan B at SOFR plus 500 bps

By Sara Rosenberg

New York, Sept. 11 – Fogo de Chao (BCPE Grill Parent Inc.) launched on Monday its $550 million seven-year covenant-lite term loan B (B-) with price talk of SOFR plus 500 basis points with a 0.5% floor and an original issue discount of 97, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc., Jefferies LLC and UBS Investment Bank are the bookrunners on the deal. Deutsche Bank is the administrative agent.

Commitments are due at noon ET on Sept. 22.

Proceeds will be used to help fund the buyout of the company by Bain Capital Private Equity from Rhone Capital.

Closing is expected this month, subject to customary conditions, including regulatory approvals.

Fogo de Chao is a Dallas-based restaurant chain focused on fire-roasting high-quality meats.

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