Ruth's amends revolver, increasing size, extending maturity

By Sara Rosenberg

New York, Aug. 9 - Ruth's Chris Steak House, Inc. amended its credit facility, increasing the revolver to $150 million from $100 million and extending the maturity to Aug. 7, 2012 from March 11, 2010, according to an 8-K filed with the Securities and Exchange Commission Thursday.

In addition, the amendment increased the revolver accordion feature to $50 million from $25 million.

The amendment also provides that $50 million in proceeds may be use to repurchase common stock.

Lastly, the consolidated leverage ratio was changed to 3.25:1.00.

The amendment was completed on Aug. 7.

Wells Fargo Bank is the administrative agent on the deal.

Ruth's is a Heathrow, Fla.-based steakhouse company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.