Brinker International Inc. has announced an amendment to its existing credit agreement, originally dated August 18, 2021, with a consortium of banks led by JPMorgan Chase Bank, N.A. as the administrative agent. Effective May 1, 2025, this Fourth Amendment increases Brinker's revolving credit facility from $900 million to $1 billion. Additionally, the amendment revises the loan pricing to a rate of Term SOFR plus a margin ranging from 1.25% to 2.00%, with potential rate reductions tied to improved debt to cash flow ratios. The maturity date for this credit facility has also been extended to May 1, 2030. This strategic financial move aims to bolster Brinker's liquidity and financial flexibility.
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