Loan & DebtJun 12, 2026, 12:57 PM
Noble Roman's Secures $6.9M Term Loan, Repays Prior Debt
AI Summary
Noble Roman's Inc. secured a new senior secured term loan of approximately $6.9 million from Lake Forest Bank & Trust Company, N.A. The proceeds were primarily used to repay the outstanding $5.4 million senior secured term loan with Corbel Capital Partners SBIC, L.P., including the redemption of $500,000 in associated warrants. The company also repaid $580,000 in subordinated debt and covered transaction-related fees. This new loan features a lower interest rate structure without equity components, replacing the previous debt.
Key Highlights
- Secured a new $6.9 million senior secured term loan with Lake Forest Bank & Trust Company, N.A.
- Used proceeds to repay $5.4 million outstanding senior secured term loan from Corbel.
- Redeemed $500,000 of warrants (5,500,000 shares) issued with the Corbel loan.
- Repaid $580,000 in outstanding subordinated debt.
- New loan bears interest at Term SOFR + 4.00% (currently 7.60% per annum) with a five-year maturity.
- No equity or payment-in-kind interest components, unlike the prior loan.
- Requires interest rate hedging for at least 50% of the loan amount within 90 days.
Price Impact
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