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Carrols Restaurant amends credit facility to shift to SOFR pricing
By Sara Rosenberg
New York, Dec. 22 – Carrols Restaurant Group Inc. amended its credit agreement to transition to SOFR from Libor and add 10 basis points of CSA, according to an 8-K filed with the Securities and Exchange Commission on Wednesday afternoon.
Pricing on the company’s revolver and initial term loan is SOFR plus 325 basis points, revised from Libor plus 325 bps, and pricing on the incremental term loan B-1 is SOFR plus 625 bps, revised from Libor plus 625 bps.
Wells Fargo Bank is the administrative agent on the deal.
The amendment was completed on Dec. 15.
Carrols is a Syracuse, N.Y.-based restaurant franchisee and operator.
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