Dave & Buster’s Entertainment, Inc. Announces Opportunistic Term and Revolving Loan Repricing

DALLAS, Jan. 19, 2024 (GLOBE NEWSWIRE) — Dave & Buster’s Entertainment, Inc., (NASDAQ:PLAY), (“Dave & Buster’s” or “the Company”), an owner and operator of entertainment and dining venues, today announced that the Company successfully amended its credit agreement, achieving a reduction in the interest rate margin applicable to its term loans and revolving loans outstanding under its credit agreement by 60 basis points (inclusive of the removal of the 10 basis point credit spread adjustment) with an additional 25 basis point reduction with respect to the term loans upon achieving certain ratings from Moody’s and S&P. Term loans now bear an interest rate of SOFR + 325 basis points (versus SOFR + 375 prior to the amendment). The amendment is expected to result in over $5 million of annual cash interest savings. There are no changes to the maturity of the outstanding term loans and revolving loans as a result of the repricing.

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