Fogo de Chao launches repricing of $324 million term loan due 2024

New York, Oct. 1 – Fogo de Chao, Inc. was scheduled to launch a repricing of its $324 million covenant-light first-lien term loan due April 2024 with a lender call on Monday, according to a market source.

The repricing will take the coupon down to Libor plus 400 basis points from Libor plus 450 bps.

As part of the transaction, the 101 soft call protection will be reset for six months.

The repriced loan is offered at par and the 1% Libor floor will be left unchanged.

Credit Suisse is the lead bank.

Fogo de Chao is a Dallas-based chain of Brazilian steakhouses.

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