Brinker International Announces New Revolving Credit Facility
The company had approximately
"Our ability to close this transaction in a difficult financial
environment is a testament to the strength of our brands, our balance sheet
and considerable cash flow, as well as our financial relationships," said
Brinker elected to reduce the size of the facility as it anticipates reduced future borrowing needs due to the divestiture of Romano's Macaroni Grill, the reduction in company-owned restaurant development and its focus on debt repayment. The facility is primarily used as a backstop and to fund the company's daily working capital needs.
At the end of the second quarter of fiscal 2009,
The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements involve risks and uncertainties and, consequently, could be affected by general business and economic conditions, the impact of competition, the impact of acquisitions and divestitures and other strategic transactions, the seasonality of the company's business, adverse weather conditions, future commodity prices, fuel and utility costs and availability, terrorists acts, consumer perception of food safety, changes in consumer taste and behavior, health epidemics or pandemics, changes in demographic trends, availability of employees, unfavorable publicity, the company's ability to meet its growth plan, acts of God, governmental regulations, and inflation.
Web Site: http://www.brinker.com