Wachovia Bank's $240 million refinancing for Kwik Trip filled up quickly after a bank meeting held in Wisconsin early last week. An official following the syndication said the loan, comprising a $190 million revolver and a $50 million "A" term loan, is already oversubscribed. She could not provide the names of the other banks that have signed up for the deal. Pricing on the five-year bank facilities is LIBOR plus 13/ 4%, with grid pricing on the revolver. There is a 3/8% fee for the unused revolver, she added. Kwik Trip is a privately owned convenience store chain.
Wachovia Quick To Fill Kwik Trip