Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On February15, 2017, Popeyes Louisiana Kitchen, Inc. (the
Company) entered into a first amendment (the Amendment) of its
Amended and Restated Credit Agreement (the 2016 Credit Facility)
with Wells Fargo Bank, National Association, as Administrative
Agent, Issuing Bank and Swingline Lender, Bank of America, N.A.,
as Syndication Agent, and certain other lenders party thereto.
The Amendment consists of a $150 million dollar revolving loan
expansion under the 2016 Credit Facility. This expanded capacity
will give the Company access to a total of $400 million dollars
of revolving debt capacity. The Company currently has drawn
$155.5 million of this total debt capacity. Availability for
short-term borrowings and letters of credit under the revolving
credit facility after giving effect to this transaction was
$244.4 million. There were no other changes to the tenor or
covenants included in the 2016 Credit Facility. The facility is
scheduled to mature on January22, 2021. There are no required
principal payments due prior to the maturity date.
The foregoing does not constitute a complete summary of the terms
of the Amendment, and reference is made to the complete text of
the Amendment, a copy of which is attached as Exhibit 10.1 to
this Current Report on Form 8-K and is incorporated herein by
reference.
| Item2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth above in Item1.01 is incorporated by
reference into this Item2.03.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 10.1 |
First Amendment to Credit Agreement dated as of February15, 2017. |
About Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI)
Popeyes Louisiana Kitchen, Inc. operates and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits. The Company operates through two segments: franchise operations and company-operated restaurants. The franchise segment consists of domestic and international franchising activities. Within the QSR industry, it offers Louisiana style menu that features spicy chicken, chicken tenders, fried shrimp and other seafood, red beans and rice and other regional items. It operates and franchises approximately 2,539 Popeyes restaurants in over 48 states, the District of Columbia, three territories and 27 foreign countries. Its approximately 1,900 domestic franchised restaurants are concentrated in Texas, California, Florida, Louisiana, New York, Illinois, Georgia, Maryland, New Jersey, Virginia and Mississippi. Its approximately 569 international franchised restaurants are located in Turkey, South Korea and Canada. Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI) Recent Trading Information
Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI) closed its last trading session up +0.29 at 79.02 with 1,338,195 shares trading hands.
