Steak n Shake to launch $220 million term loan B on Wednesday

By Sara Rosenberg

New York, Feb. 24 - Steak n Shake Operations Inc. will hold a bank meeting at 2 p.m. ET on Wednesday to launch a $220 million term loan B, according to a market source.

Jefferies Finance LLC is the lead bank on the deal.

In addition, the company plans on getting a revolver, but the size is still to be determined, the source said.

Proceeds will be used to refinance existing debt and fund a dividend to Biglari Holdings Inc.

Steak n Shake is a restaurant operator.

© 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.