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K-MAC sets Thursday lender call for $115 million incremental loan
By Paul A. Harris
Portland, Ore., Feb. 21 – K-MAC Enterprises, Inc. scheduled a lender call for 2:30 p.m. ET on Thursday for a $115 million non-fungible covenant-lite incremental first-lien term loan due July 2028 (expected ratings B3/B-) via borrowing entity MIC Glen LLC, according to a market source.
BMO is the left arranger. Goldman Sachs, KKR and RBC are the joint arrangers.
The Fayetteville, Ark.-based fast food restaurant operator, which is sponsored by Mubadala Capital, plans to use the proceeds to repay a $105 million second-lien term loan and revolver debt.
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