Dave & Buster’s Entertainment, Inc. Announces Amendment to Credit Agreement, Reduces Spread 1.25% and Further Enhances Liquidity Position with Upsize of Term Loan B to $900 Million on Strong Demand
The amendment to the credit agreement, among other things,
- Provides for an upsized term loan facility in an aggregate principal amount of
$900 million, issued at an OID of 99.00
- Reduces the interest rate margin applicable to term loans and revolving loans outstanding under the credit agreement by 1.25%
- Provides additional upsize proceeds that will be used for general corporate and working capital purposes
“We are pleased with the swift execution and improved economics of this deal which is a testament to the strong financial position of our company and positive momentum we have created in the year following the merger with Main Event,” said
Please refer to the Form 8-K filed with the
About Dave & Buster’s Entertainment, Inc.
Founded in 1982 and headquartered in
The Company cautions that this release contains forward-looking statements. These forward-looking statements involve risks and uncertainties, including: our ability to continue as a going concern; our ability to obtain waivers, and thereafter continue to satisfy covenant requirements, under our revolving credit facility; our ability to access other funding sources; our overall level of indebtedness; general business and economic conditions, including as a result of the coronavirus pandemic and any new coronavirus variants; the impact of competition; the seasonality of the Company’s business; adverse weather conditions; future commodity prices; guest and employee complaints and litigation; fuel and utility costs; labor costs and availability; changes in consumer and corporate spending; changes in demographic trends; changes in governmental regulations; unfavorable publicity, our ability to open new stores, acts of God and other risks and uncertainties described the Company’s Annual Report on Form 10-K filed with the
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Dave & Buster’s
Source: Dave & Buster's Entertainment, Inc.