Private equity backed fast-food chicken chain El Pollo Loco has filed to list on the Nasdaq stock exchange as it looks to raise capital to pay off debt.
The company hired Jefferies Group, Morgan Stanley and Robert W Baird to lead the IPO back in April, and intends to list under the LOCO ticker.
Trimaran Capital bought El Pollo Loco from American Securities in 2005, with the chain securing a $45m investment from Freeman Spogli two years later.
No target is given for the IPO capital raise, although El Pollo revealed in a regulatory filing it planned to use the net proceeds to repay in whole or in part its $100m second lien term loan facility.
That loan matures in April 2019.
El Pollo Loco currently operates more than 400 owned and franchised restaurants in Arizona, California, Nevada, Texas and Utah.
The company generated revenues of about $76m in the 13 weeks ending March 26, the company said.
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