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Carrols seeks new credit facility via JPMorgan
By Sara Rosenberg
New York, Nov. 16 - Carrols Corp. is expected to approach the bank loan market with a new senior secured bank loan (B+) in connection with the tender offer for its 9½% senior subordinated notes.
JPMorgan is the lead bank on the deal; however, as to whether any other banks are involved was unavailable prior to press time.
Proceeds from the facility will be used to refinance debt, including the existing senior secured credit facility - which is actually a condition of the tender offer.
The tender offer will expire on Dec. 14.
Carrols is a Syracuse, N.Y.-based restaurant company that operates Burger Kings, Taco Cabana restaurants and Pollo Tropical restaurants.
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