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Luihn VantEdge to launch $345 million of term loans on Tuesday
By Sara Rosenberg
New York, Nov. 5 – Luihn VantEdge Partners LLC will hold a lender meeting at 3 p.m. ET on Tuesday to launch $345 million of term loans, according to a market source.
Citizens Bank is the lead arranger and administrative agent.
The debt consists of a $280 million seven-year covenant-lite first-lien term loan and a $65 million eight-year covenant-lite second-lien term loan, the source said.
Proceeds will be used to fund an acquisition and refinance existing debt.
VantEdge Partners LLC is the sponsor.
Luihn VantEdge is a Morrisville, N.C.-based owner and operator of 172 restaurants (primarily Taco Bell units) across five states.
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