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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Kona Grill Expanded Credit Facility With Key Bank to $35MM
Tuesday, November 11, 2014
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Lenders/Participants
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Key Bank [Lender]
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Structure
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Credit Facility Increase
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Amount
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$35.000
Million
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Borrower(s)
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Kona Grill, Inc.
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Description
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The amended facility allows for available borrowings of $35 million compared to $20 million under the old facility. The new facility bears interest between 1.5% and 2.5% over LIBOR, dependent upon the company's leverage ratio, compared to an interest rate of LIBOR plus 3.0% to 3.5% under the old facility. The amended facility also provides additional flexibility and less restrictive financial covenants. The facility is secured by the assets of the company and has a five-year term with an option to extend the term for one year upon the Lenders' consent.
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Industry
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Restaurant
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| Related Tags |
Key Bank
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ABL Advisor
Deal Tables
2024
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