Red Robin gets $200 million amended, restated revolver

By Sara Rosenberg

New York, Dec. 14 - Red Robin Gourmet Burgers Inc. closed on a $200 million amended and restated revolving credit facility due Dec. 14, 2010, according to a company news release.

Wachovia Bank was the lead bank on the deal.

Interest on revolver borrowings can range from Libor plus 62.5 to 125 basis points, based on leverage.

There is a $40 million accordion feature.

Borrowings will be used to finance restaurant construction and related costs, refinance certain existing debt and provide for working capital and general corporate requirements.

The facility replaces the company's $85 million senior secured three-year revolver that was scheduled to mature on May 20, 2006.

"We are very pleased to have closed this financing, which will provide us with the flexibility to fund the capital needs of our growing business, and at substantially more favorable rates than under our former facility. The availability of up to $240 million in capital will facilitate our growth plans well into the future," said Dennis Mullen, chairman and chief executive officer, in the release.

Red Robin is a Greenwood Village, Colo.-based casual dining restaurant chain.

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