Red Robin obtains $300 million amended, restated credit agreement

By Sarah Lizee

Olympia, Wash., Jan. 13 – Red Robin Gourmet Burgers, Inc. entered into an amended and restated credit agreement on Friday with Wells Fargo Bank, NA as administrative agent, providing for a $161.5 million revolving line of credit and a $138.5 million term loan, according to an 8-K filing with the Securities and Exchange Commission.

Wells Fargo and JPMorgan Chase Bank, NA are the joint lead arrangers and joint bookrunners.

JPMorgan is the syndication agent and Bank of America, NA, BBVA USA and U.S. Bank NA are the documentation agents.

There is a $100 million accordion.

The new credit facility will mature on Jan. 10, 2025.

Interest is Libor plus 150 basis points to 250 bps, and the commitment fee ranges from 25 bps to 45 bps, in each case depending on leverage. Interest is initially Libor plus 225 bps, and the commitment fee is initially 40 bps.

No amortization is required for the revolver. The term loans require quarterly principal payments at a rate of 7% of the original principal balance.

Red Robin International, Inc. is the borrower under the credit agreement.

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

© 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.