9 hours ago
Banks Launch Debt for Bain Capital Buyout of Wingstop Franchisee
A group of Wall Street banks have launched the first part of a roughly $1 billion debt sale to fund Bain Capital 's acquisition of restaurant franchisee Sizzling Platter, which operates outposts of chains including Little Caesars, Dunkin', Jersey Mike's and Wingstop.
Jefferies Financial Group Inc. is leading the loan offering, which includes a $425 million seven-year first-lien term loan and an $80 million delayed-draw term loan, according to a person with knowledge of the matter, who asked not to be identified discussing a private matter. Proceeds from the loan will be used to finance the company's buyout along with $500 million in other secured debt.
