Fogo de Chao obtains five-year $250 million revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, June 30 – Fogo de Chao, Inc. entered into a five-year $250 million revolving credit facility on June 24, according to an 8-K filed with the Securities and Exchange Commission.

Loans under the facility bear interest initially at Libor plus 200 basis points and then can vary from Libor plus 150 bps to Libor plus 250 bps, depending on the total rent-adjusted leverage ratio.

The facility matures on June 24, 2020.

Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the joint lead arrangers and joint bookrunners. Wells Fargo Bank, NA is the administrative agent. Fifth Third Bank and Regions Bank are the documentation agents. JPMorgan Chase Bank, NA and Bank of America, NA are the syndication agents.

The new financing resulted in a termination of Fogo’s previous credit agreements and coincides with the closing of the initial public offering of the company’s common stock.

The Brazilian steakhouse chain is based in Dallas.

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