The Pantry Concludes Debt Refinancing
CARY, N.C. -- The Pantry Inc. today announced it closed its previously announced debt refinancing, which included a private placement of $250 million of its 8.375-percent yielding senior unsecured notes due 2020, its seven-year $225 million senior secured term loan and a new five-year $225 million senior secured revolving credit facility.
According to the parent of Kangaroo Express, the proceeds of the loans are being used to finance a tender offer and/or redemption of all of its outstanding senior subordinated notes, to repay its outstanding debt under its prior credit facility, pay expenses related to these transactions, and for general corporate purposes.