AFC Enterprises repays $3.9 million of loans in first quarter

By Sara Rosenberg

New York, May 27 - AFC Enterprises Inc. repaid $3.9 million of bank debt during the first quarter, according to a 10-Q filed with the Securities and Exchange Commission on Wednesday.

Specifically, the company repaid $3.4 million of its term loan, including $2.8 million of mandatory prepayments from consolidated excess cash flow, and $0.5 million under its revolver.

During this year, the company plans to continue to use cash realized from operations and the proceeds from sales of selected restaurant properties to make voluntary debt prepayments to secure compliance with the total leverage ratio requirement.

AFC is an Atlanta-based developer, operator and franchiser of quick-service restaurants.

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