Ruby Tuesday amends loan to authorize prepayment of up to $15 million of 7 5/8% notes

By Jennifer Chiou

New York, Aug. 13 - Ruby Tuesday, Inc. entered into on Aug. 10 an amendment of its revolving credit agreement to allow the company to prepay up to $15 million of its $250 million of 7 5/8% senior notes due 2020, according to an 8-K filing with the Securities and Exchange Commission.

The notes were issued in May.

Bank of America, NA was the administrative agent, servicer, issuing bank and swingline lender.

The filing stated that the amendment also clarifies a term that is a component of the company's calculation of a financial covenant under the facility.

In other news, the company's board of directors appointed F. Lane Cardwell and Jeffrey J. O'Neill as directors.

The issuer is a Maryville, Tenn.-based restaurant company.

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