Church’s Chicken closes $245M debt refinancing

Church’s Chicken has refinanced its debt with a new $245 million asset-backed securitization, the company said Monday.

The Atlanta-based, 1,700-unit quick-service operation, which is owned by private-equity firm Friedman Fleischer & Lowe, said proceeds from the securitization were used to repay outstanding balances from existing credit facilities, and to pay related fees and expenses and a dividend to shareholders. The debt refinancing includes $220 million of senior s

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