Fogo de Chao plans $340 million credit facilities for buyout by Rhone

By Sara Rosenberg

New York, March 5 – Fogo de Chao Inc. has received a commitment for $340 million of senior secured credit facilities to help fund its acquisition by Rhone Capital for $15.75 per share, or about $560 million, according to a PREM14C filed with the Securities and Exchange Commission on Monday.

Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are the leads on the deal.

The facilities consist of a $40 million revolver and a $300 million term loan.

Other funds for the transaction will come from up to $278 million in equity.

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

Fogo de Chao is a Dallas-based steakhouse chain.

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