Foodtastic closes oversubscribed C$175 million revolving facility

By Marisa Wong

Los Angeles, Dec. 15 – Foodtastic Inc. announced it closed a C$175 million revolving debt facility to fund acquisitions.

The lending group is led by National Bank of Canada and also includes Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank, Canadian Western Bank and the Business Development Bank of Canada.

Commitments were oversubscribed, and Foodtastic expects to expand the facility to support further growth, according to a press release.

This new debt is in addition to the existing equity investment of Restaurant Royalty Partners, a joint venture of Oaktree Capital Management, LP and JHR Capital LLC, the company noted.

Based in Montreal, Foodtastic is a franchisor of restaurant brands in Canada.

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