Potbelly replaces revolver with $25 million five-year term loan

By Marisa Wong

Los Angeles, Feb. 10 – Potbelly Corp. closed on a new $25 million senior secured term loan that matures on Feb. 7, 2028 led by Sagard, according to a press release.

A portion of the proceeds were used to retire the company’s existing revolving credit facility with J.P. Morgan. The remaining proceeds will be used to fund working capital and for general corporate purposes, including capital expenditures.

The facility allows the company to enter into an additional $5 million revolver with third party lenders.

William Blair acted as the financial advisor to Potbelly on the transaction.

Potbelly is a sandwich shop company based in Chicago.

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