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CHECKERS COMPLETES BANK FINANCING

 CLEARWATER, Fla., Oct. 28 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that it has entered into a significant new credit facility pursuant to which Checkers may borrow up to $85 million. The new loan is unsecured and consists of an $80 million syndicated three-year revolving credit facility and a $5 million swing line loan. Wachovia Bank of Georgia, N.A. is the agent for the bank syndicate providing the revolver, and is also the lender for the swing line loan. Interest is at Wachovia's prime rate or a LIBOR-based rate, at the option of the company. Proceeds from the borrowings may be used generally to fund Checkers' expansion and for working capital.
 In commenting on these transactions, Herbert G. Brown, chairman of the board of the company, stated: "This is an important step for the company, in that it provides Checkers with immediate access to substantial funds on very competitive terms from a prestigious bank group. This facility will help implement the company's strategy of developing additional restaurants in new and existing markets. The proceeds from this financing should, along with expected cash flows from operations, fund our anticipated growth into 1995."
 Checkers develops, produces, owns, operates and franchises double drive-thru quick-service hamburger restaurants under the name of "Checkers".
 -0- 10/28/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc. ST: Florida IN: LEI SU:

RK-MM -- FL020 -- 8060 10/28/93 15:06 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
Words:244
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