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AFC Enterprises $250 million credit facility launches
By Sara Rosenberg
New York, April 20 - AFC Enterprises Inc. held a bank meeting on Wednesday to launch its proposed $250 million credit facility (B1/B+), according to a market source.
JPMorgan is the lead bank on the deal.
The facility consists of a $75 million revolving credit facility and a $175 million term loan, with both tranches talked at Libor plus 200 basis points, the source said.
Proceeds will be used to fund a dividend payment and refinance existing bank debt.
AFC is an Atlanta developer, operator and franchiser of quick service restaurants, bakeries and cafes.
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