Wingstop Inc. Announces Intention to Enter Into New Securitized Financing Facility
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Wingstop Inc. Announces Intention to Enter Into New Securitized Financing Facility

DALLAS, Feb. 28, 2022 // PRNewswire // - Wingstop Inc. ("Wingstop" or the "Company") (NASDAQ: WING), today announced its intention to complete a securitized financing transaction, which will include a new series of securitized debt. The Company also expects to enter into a new variable funding note facility.

The Company intends to issue $250 million of new securitized notes (the "Notes"), in addition to its existing Series 2020-1 Fixed Rate Senior Notes. The Company intends to use the net proceeds from the issuance to pay transaction fees, strengthen the Company's liquidity position, and for general corporate purposes, which may include a return of capital to shareholders. The Company also expects to enter into a new variable funding note facility, which will replace the existing $50 million variable funding note facility. Borrowing capacity under the new variable funding note facility will become available as the Company satisfies certain borrowing conditions, up to a maximum capacity of $200 million. As of February 28, 2022, there were no outstanding borrowings under the existing variable note funding facility.

The transaction is subject to market and other conditions and is anticipated to close in the first quarter of 2022. There can be no assurance regarding the timing of the transaction or that the transaction will be completed.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security. The Notes are expected to be offered pursuant to an exemption from the registration requirements of the Securities Act of 1933 (the "Securities Act") and applicable state securities laws and accordingly have not been, and will not be, registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

SOURCE Wingstop

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