Bain Capital has raised approximately $1bn in debt financing to support its acquisition of Sizzling Platter, a major restaurant franchisee operating outlets for brands such as Little Caesars, Dunkin’, Jersey Mike’s, and Wingstop, according to a report by Bloomberg.
The reports cites unnamed sources familiar with the transaction as revealing that the financing package includes a $425m seven-year first-lien term loan, priced at SOFR + 500 basis points and issued at 97 cents on the dollar—placing it among the pricier syndicated loans seen in recent months. The deal also features an $80m delayed draw term loan and $500m in senior secured notes, which priced at par with a 9.5% yield.
Moody’s assigned the company a corporate and facility rating of B3, while S&P gave a B rating. Jefferies led the loan tranche, with UBS managing the bond portion of the deal.
