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Del Taco Holdings Inc. has announced the completion of a debt refinance transaction.
According to a news release, the transaction was led by GE Capital and includes an amended senior credit facility with a $220-million term loan and a $40-million revolving line of credit. Incremental net proceeds raised were used for a partial redemption of its senior subordinated debt.
"This transaction results in a significantly lower effective interest rate and optimizes our capital structure, strengthens our financial performance and allows for increased financial flexibility," said Steven Brake, EVP and CFO. "We will continue to invest in new and existing markets, focus on our quality and value proposition, and introduce product innovations."
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