What was the total debt for Del Taco as of October 1, 2023?
Del_Taco Franchise · 2025 FDDAnswer from 2025 FDD Document
nts, intellectual property and license agreements for the use of intellectual property. Upon certain trigger events, mortgages will be required to be prepared and recorded on the real estate assets.
Revolving credit facility — In connection with the Del Taco acquisition, Del Taco's existing debt of $115.2 million related to a Syndicated Credit Facility dated August 5, 2015, was repaid and extinguished on the Closing Date. On the Closing Date, Del Taco entered into a new syndicated credit facility with an aggregate principal amount of up to $75.0 million, which now matures on February 28, 2025. The Company capitalized $0.3 million of debt issuance costs, which are being amortized into interest expense over the expected term of the credit facility. The revolving credit facility, as amended, included a limit of $20.0 million for le
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 58)
What This Means (2025 FDD)
According to Del Taco's 2025 Franchise Disclosure Document, the company's existing debt of $115.2 million related to a Syndicated Credit Facility dated August 5, 2015, was repaid and extinguished on March 8, 2022, in connection with the Del Taco acquisition by Jack in the Box. On the same day, Del Taco entered into a new syndicated credit facility with an aggregate principal amount of up to $75.0 million, which matures on February 28, 2025.
As of September 29, 2024, Del Taco had no outstanding borrowings and had an available borrowing capacity of $75.0 million under the facility. The company had capitalized $0.3 million of debt issuance costs, which are being amortized into interest expense over the expected term of the credit facility.
While the FDD provides information on debt and credit facilities, it does not explicitly state the total debt for Del Taco as of October 1, 2023. To obtain this specific figure, a prospective franchisee should directly ask Del Taco for their total debt as of that date.