El Pollo Loco talks $125 million bank facility at Libor plus 275 bps

By Paul A. Harris

St. Louis, Oct. 26 - El Pollo Loco Inc. is talking its $125 million credit facility at Libor plus 275 basis points, according to an informed source.

The bank meeting for the deal, led by Merrill Lynch and Bank of America, took place Tuesday.

The facility is comprised of a $100 million term loan B and a $25 million revolving credit facility.

Proceeds will be used to help fund the leveraged buyout of the company by Trimaran Capital Partners from American Securities Capital Partners LP.

El Pollo Loco is an Irvine, Calif.-based Mexican-style restaurant chain.

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