Dave & Buster's, Inc. reports closing $50,000,000 revolving credit facility.DALLAS--(BUSINESS WIRE)--May 29, 1997--Dave & Buster's, Inc. (Nasdaq: DANB DANB Dental Assisting National Board ) announced it has closed a $50,000,000 revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility to finance working capital, general corporate requirements and new store development. The new facility more than doubles the Company's current facility. The arranger for the transaction was Chase Securities, Inc. with Texas Commerce Bank National Association acting as administrative agent for a syndicate of banks. "We are very pleased with our new credit facility," said Dave Corriveau, co-founder of Dave & Buster's, Inc. "We are now firmly positioned to execute our development plan through 1998." Dave & Buster's currently operates ten large, high volume restaurant/entertainment complexes under the Dave & Buster's name in Dallas (two locations); Houston; Chicago (two locations); Atlanta; Philadelphia; Hollywood, Florida Hollywood is a city in Broward County, Florida, United States. As of 1 July 2006, the population estimated by the U.S. Census Bureau is 145,879.[3] Founded in 1925, the city grew rapidly in the 1950s and 1960s, and is now the ninth largest city in Florida. ; North Bethesda, Maryland Bethesda is an urbanized, but unincorporated, area in southern Montgomery County, Maryland, just Northwest of Washington, D.C. It takes its name from a church located there, the Bethesda Presbyterian Church, built in 1820 and rebuilt in 1850, which in turn took its name from ; and the newest location in Ontario, California Ontario is a city located in San Bernardino County, California, United States. As of the 2000 Census, the city had a total population of 170,373. It is the home of LA/Ontario International Airport and the huge Ontario Mills shopping mall (the largest in Southern California and one , which opened March 13, 1997. Under a UK licensing agreement with Bass Plc of London the Company opened its first international site in Birmingham, England, on May 22, 1997. The Company plans to add two additional domestic locations in 1997 with the next location being in Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. , in the fall of 1997. For further information, please contact: Chas Michel, Chief Financial Officer, 2751 Electronic Lane, Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , 75220, (214) 357-9588. This release contains forward-looking statements which involve assumptions regarding Company operations and future prospects. Although the Company believes its expectations are based on reasonable assumptions, such statements are subject to risk and uncertainty, including, among other things, certain economic conditions, competition, development factors and operating costs. Caution should be taken that these factors could cause the actual results to differ from those stated or implied in this and other Company communications. CONTACT: Dave & Buster's Inc., Dallas Chas Michel, 214/357-9588 |
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