Wingstop to refinance securitized facility with $450 million of notes

By Taylor Fox

New York, Oct. 5 – Wingstop Inc. intends to refinance its existing securitized financing facility with a new securitized financing facility, expected to be comprised of $400 million of senior term notes and $50 million of senior variable funding notes, according to a news release.

The outstanding balance of Wingstop’s securitized financing facility was $317 million of senior term notes and $16 million of senior variable funding notes as of Sept. 26.

Wingstop intends to use the proceeds from the sale of the notes to repay its existing securitized financing indebtedness and to pay transaction costs associated with the refinancing.

This transaction will also further strengthen Wingstop’s liquidity position.

The refinancing is expected to close in the fourth quarter of 2020.

The restaurant franchise is based in Dallas.

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