ClubCorp Holdings, Inc. Completes Repricing of $901 Million Senior Secured Term Loan
Posted: May 28, 2015 in Chains
ClubCorp – The World Leader In Private Clubs
DALLAS, TX – ClubCorp – The World Leader in Private Clubs (NYSE: MYCC) – announced that it has completed the repricing of its $901 million senior secured term loan. ClubCorp’s credit agreement was amended to decrease the rate at which Term B loans bear interest.
ClubCorp obtained a 25 basis point rate reduction, such that its Term B loans will bear interest at a rate of L+325 bps, with a 1% LIBOR floor. No covenants were changed or amended and the term loan facility continues to mature on July 24, 2020.
