What was the total debt for Del Taco as of October 1, 2023, in thousands of dollars?
Del_Taco Franchise · 2025 FDDAnswer from 2025 FDD Document
In connection with the transaction, the Company repaid Del Taco's existing debt of $115.2 million related to a syndicated credit facility and Del Taco entered into a new syndicated credit facility.
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 letters of credit, all of which were cancelled as of September 29, 2024. As of September 29, 2024, we had no outstanding borrowings and available borrowing capacity of $75.0 million under the facility.
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 the Closing Date of the acquisition by Jack in the Box. This debt figure represents the closing indebtedness of Del Taco's existing debt that was paid at the Closing Date by the Company.
In connection with the Del Taco acquisition, 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. As of September 29, 2024, Del Taco had no outstanding borrowings and available borrowing capacity of $75.0 million under the facility.
In summary, as of October 1, 2023, Del Taco's existing debt was $115.2 million, which was subsequently repaid in connection with the acquisition. After the acquisition, Del Taco entered into a new credit facility. However, as of September 29, 2024, there were no outstanding borrowings under this new facility.