IRVING, Texas, April 23, 2021 /PRNewswire/ — CEC Leisure, LLC (“CEC Leisure” or the “Firm”), a nationally acknowledged chief in household leisure and eating, in the present day introduced that it closed a $650 million providing of its 6.750% senior secured notes due 2026 (the “Notes”) and a brand new $50 million revolving credit score facility (the “Revolving Credit score Facility”).
The Firm utilized the proceeds of the Notes providing to refinance in complete its present first lien time period mortgage and second lien time period mortgage (together with any relevant make-whole premium), to pay charges and bills associated to the providing and the Revolving Credit score Facility and to extend its money out there for basic company functions.
“This refinancing offers CEC Leisure with better liquidity and elevated monetary flexibility as we proceed to rebound from the COVID-impacted enterprise surroundings,” stated Jim Howell, Chief Monetary Officer of CEC Leisure. “The refinancing and new revolving credit score facility are a recognition of the corporate’s sturdy family-friendly restaurant and leisure manufacturers and place the enterprise in place for vital future progress.”
The Notes have been supplied and bought solely to individuals moderately believed to be certified institutional consumers pursuant to Rule 144A beneath the Securities Act of 1933, as amended (the “Securities Act”), and outdoors the US, solely to non-U.S. individuals in compliance with Regulation S beneath the Securities Act.
The Notes mature Might 1, 2026, and each the Notes and the Revolving Credit score Facility are assured on a senior foundation by CEC Leisure Holdings II, LLC, the Firm’s father or mother, and the Firm’s present and future home subsidiaries. The Notes and the ensures are secured by first-priority safety pursuits over considerably all the present and future property of the Firm and the guarantors, topic to sure exceptions and permitted liens, that are the identical property that safe the Revolving Credit score Facility on a “super-priority” foundation.
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase any safety and shall not represent a proposal, solicitation or sale in any jurisdiction wherein such providing, solicitation or sale could be illegal.
In regards to the Firm
CEC Leisure, LLC is the nationally acknowledged chief in household leisure and eating with its Chuck E. Cheese, Peter Piper Pizza and, supply solely, Pasqually’s Pizza & Wings manufacturers. Because the place the place 1,000,000 glad birthdays are celebrated yearly, Chuck E. Cheese’s aim is to create constructive, lifelong recollections for households by way of enjoyable, meals, and play and is the place The place A Child Can Be A Child®. Dedicated to offering a enjoyable, protected surroundings, Chuck E. Cheese helps defend households by way of industry-leading packages comparable to Child Test®. As a robust advocate for its native communities, Chuck E. Cheese has donated greater than $16 million to varsities by way of its fundraising packages. Peter Piper Pizza options eating, leisure and carryout with a neighborhood pizzeria really feel and “pizza made contemporary, households made glad” tradition. Peter Piper Pizza takes delight in delivering high quality meals and enjoyable that reconnects household and associates. With a daring design and up to date format, an open kitchen revealing a lot of their handcrafted meals preparation, the most recent know-how and video games, and beer and wine for adults, Peter Piper Pizza eating places enchantment to folks and children alike. The Firm and its franchisees function a system of 558 Chuck E. Cheese and 114 Peter Piper Pizza venues, with areas in 47 states and 15 overseas international locations and territories. For extra data, go to chuckecheese.com and peterpiperpizza.com.
SOURCE CEC Leisure, Inc.