Quiznos’ proposed reorganization plan, filed in bankruptcy court on Friday provides for holders of claims under the company’s first-lien credit facility to receive pro rata shares of an amended $200 million first-lien credit facility and 100 percent of the reorganized company’s equity, subject to dilution, Forbes.com reported yesterday. The first-lien credit facility has $444.7 million outstanding, according to court filings. The amended $200 million term facility would have a five-year term, and carry interest at 15 percent for the first 18 months, in-kind, and 10 percent thereafter, in cash, according to a proposed term sheet filed with the bankruptcy court.
