Tacala sets talk on term loans with launch of $480 million facility

New York, Jan. 18 – Tacala Cos. set price talk on the $335 million first-lien term loan and $115 million second-lien term loan included in its new credit facility at the launch on Thursday, according to a market source.

The first-lien loan is talked at Libor plus 350 basis points and a price of 99.5 while the second-lien loan is talked at Libor plus 750 bps and a price of 99.

Both tranches have a Libor floor of 0%, the source said.

KKR Capital Markets and Wells Fargo Securities LLC are the leads on the deal.

The facility also includes a $30 million revolver.

Proceeds will be used to refinance existing debt and fund a dividend.

Tacala is a Vestavia Hills, Ala.-based franchise operator of Taco Bell restaurants.

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