Bowlero signs replacement revolving credit facility for $140 million

Chicago, Dec. 21 – Bowlero Corp. amended its revolving credit facility to refinance and replace the facility with a $140 million senior secured revolver (B2) on Dec. 15 between subsidiary Kingpin Intermediate Holdings, LLC and JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

The revolver has a maturity based on the earlier of Dec. 15, 2026 and the date that is 90 days before the scheduled maturity date of any term loans outstanding under the sixth amended credit agreement for more than $175 million.

Interest will be SOFR plus 250 basis points to 300 bps, based on the first-lien leverage ratio.

The commitment fee is between 25 bps and 50 bps.

The revolver can be used to repay any loans under the first-lien credit agreement from Sept. 25, 2020 and for general corporate purposes.

Also, on Dec. 17, Bowlero entered into a seventh amendment to the sixth amended credit agreement to increase revolving commitments to $165 million, a $25 million adjustment.

No other changes were made on the revolver.

Bowlero is a New York-based operator of bowling centers.

© 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.