AFC Enterprises secures new $125M credit facility, pays down higher-IR debt

|By:, SA News Editor

AFC Enterprises (AFCE -0.5%) secures a new $125M revolver maturing in 2018 at an IR Of LIBOR +1.25% to +2.5%.

$63M of the facility was used to retire the Popeyes franchisor's previous debt. The refinancing represents a 2.4% IR reduction.

In Q4 AFC expects to incur $400K in non-cash charges and defer $700K in fees associated with the transaction.