Red Robin to repay credit facility debt with sale-leaseback proceeds

By Wendy Van Sickle

Columbus, Ohio, Aug. 31 – Red Robin Gourmet Burgers, Inc. plans to repay debt under its credit agreement with some proceeds of a sale-leaseback transaction, according to a news release.

The transaction with Essential Properties Realty Trust, Inc. related to nine properties and generated gross proceeds of about $31 million. Additional proceeds will be used to fund capital investments and may support repurchasing up to $5 million of company stock.

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

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