Seeking Alpha

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

  • 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.
Comments (1)
  • moseharper
    , contributor
    Comments (110) | Send Message
     
    All of this good news- and AFCE keeps tanking....
    19 Dec 2013, 08:04 PM Reply Like
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