Dave & Buster's Entertainment Amends Credit Agreement; Enhances Loan Facility To $900M

Dave & Buster's Entertainment Inc PLAY said it amended its credit agreement, achieving favorable pricing and upsizing the Term Loan B facility to $900 million.

The amendment provides for an upsized term loan facility in an aggregate principal amount of $900 million, issued at an OID of 99.00.

It will reduce the interest rate margin applicable to term loans and revolving loans outstanding under the credit agreement by 1.25%.

The amendment will also provide 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 CFO Michael Quartieri.

Price Action: PLAY shares are trading lower by 0.20% at $44.50 in premarket on the last check Wednesday.