Denny’s resets financial covenants for $375 million credit facility

By Taylor Fox

New York, Dec. 17 – Denny’s Corp. entered into a third amendment to its amended and restated credit facility to reset financial covenants for more flexibility, according to a news release.

The amendment includes a waiver of some financial covenants through March 31, followed by the introduction of more favorable covenant levels in the fiscal second and third quarters of 2021.

The amended credit facility commitment is now $375 million.

Denny’s had $215 million outstanding on the facility as of Nov. 18.

Denny’s is a Spartanburg, S.C.-based franchisor and operator of full-service restaurants.

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