Golub Capital acted as Administrative Agent, Lead Arranger and Sole Bookrunner on a unitranche facility to support Freddy’s Frozen Custard & Steakburgers (“Freddy’s”). The facility is composed of a term loan and a revolver; proceeds will be used to support Thompson Street Capital Partners’ (“TSCPs’”) refinancing of the Company’s existing first lien credit facility. Additional deal terms were not disclosed.

Freddy’s is a fast casual franchisor of steakburgers, shoestring fries and freshly churned frozen custard. It was acquired by TSCP in 2021.

“This transaction demonstrates the flexibility offered by private credit and the simplicity of unitranche facilities which allow businesses to stay focused on success,” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “We’re delighted to further our partnership with TSCP with this transaction.”

“Golub Capital provided ease of execution and flexibility. We look forward to this next phase of growth for Freddy’s,” said Alexis Vanstone, Director at TSCP.

Golub Capital was previously a lender to Freddy’s in 2021 on a unitranche facility. Golub Capital manages over $12 billion across more than 75 portfolio companies in the consumer, restaurant and retail industry, including over $1.3 billion in the restaurant industry.