Fogo de Chao flexes $324 million term loan to Libor plus 425 bps

By Sara Rosenberg

New York, Oct. 5 – Fogo de Chao Inc. increased pricing on its $324 million covenant-light first-lien term loan due April 2025 to Libor plus 425 basis points from Libor plus 400 bps, according to a market source.

As before, the term loan has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are the leads on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 450 bps with a 1% Libor floor.

Fogo de Chao is a Dallas-based steakhouse chain.

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