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FRG - Franchise Group adds on $200M to its existing term loan reaffirms 2022 guidance
Franchise Group Inc.
Franchise Group ( NASDAQ: FRG ) on Tuesday announced that it has launched a $200 million non-fungible add-on to its existing first lien term loan due in March 2026.
Proceeds from the transaction are expected to be used to pay down existing debt under the company’s ABL credit facility.
The company also reaffirmed that its 2022 revenue is expected to be about $4.3 billion and adjusted EBITDA to be at least $350 million.