Dave & Buster's Entertainment Amends Credit Agreement, Lowers Interest Rate

By Mary de Wet

Dave & Buster's Entertainment amended its credit agreement to reduce the interest rate margin on its term loans and revolving loans.

The term loans now bear an interest rate of the secured overnight financing rate plus 325 basis points, versus the rate plus 375 basis points previously, the company said.

The amendment is expected to lead to more than $5 million in annual cash interest savings, the Dallas-based family entertainment chain said.

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(END) Dow Jones Newswires

01-19-24 1636ET