Carrols Restaurant to repay revolver borrowings via new note proceeds

By Tali Rackner

Minneapolis, June 20 – Carrols Restaurant Group, Inc. plans to repay outstanding revolving credit borrowings under its senior credit facility using the net proceeds from a $50 million private placement of 8% senior secured second-lien notes, according to a press release.

Proceeds will also be used for working capital and general corporate purposes, including for possible future acquisitions.

The new notes are an add-on to the existing $200 million principal amount of notes.

Carrols is a Syracuse, N.Y.-based Burger King franchisee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.