Dave & Buster's Entertainment Amends Credit Agreement; Enhances Loan Facility To $900M
Portfolio Pulse from Shivani Kumaresan
Dave & Buster's Entertainment Inc (NASDAQ:PLAY) has amended its credit agreement, upsizing the Term Loan B facility to $900 million. The amendment will reduce the interest rate margin applicable to term loans and revolving loans by 1.25%. The additional upsize proceeds will be used for general corporate and working capital purposes. PLAY shares are trading lower by 0.20% at $44.50 in premarket on the last check Wednesday.
July 05, 2023 | 1:28 pm
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Dave & Buster's Entertainment Inc has upsized its Term Loan B facility to $900 million, reducing the interest rate margin by 1.25%. Despite this, PLAY shares are trading lower by 0.20% at $44.50 in premarket.
The upsizing of the Term Loan B facility and reduction in interest rate margin indicates a strong financial position for Dave & Buster's Entertainment Inc. However, the stock price is trading lower, indicating that the market may have expected more or other factors are influencing the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100