Prospect Capital Corporation announced that it has provided $23.2 million of secured debt financing for the recapitalization of TB Corp., parent company of the Texas-based Taco Bueno quick-service chain.
As of October 2012, Taco Bueno operated 155 company-owned and 20 franchised locations across the Southwest.
According to a company announcement, the purpose of the recapitalization was to repay existing debt and provide a dividend to existing shareholders.
"We continue to be pleased with our financial results, and we are very excited about Taco Bueno's potential in the years to come," said Edward M. Lambert, CEO of Taco Bueno. "We are leveraging the strength of our brand and geographic positioning to capitalize on a number of important growth opportunities, including store growth within our core markets, new territory development and the extension of menu offerings."
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