Red Robin Gourmet Burgers, Inc. Completes Refinancing to Strengthen Financial Foundation and Support First Choice Plan
Red Robin completed the refinancing of its secured credit facility on October 2, 2026, replacing its prior credit agreement with a new $115 million facility — a $25 million revolver and $90 million term loan maturing October 2, 2031. The refinancing followed the substantial completion of refranchising deals selling 108 company-owned restaurants for approximately $89.4 million, with 8 more expected to close by fiscal year-end for roughly $6.6 million, bringing total proceeds to about $96 million from 116 restaurants. Pricing is SOFR plus 275-350 basis points depending on leverage (initially SOFR + 325 bps, no SOFR floor), with a $20 million accordion.
Key figures
- Deal Value Usd
- 115000000
- Maturity
- October 2, 2031
- Term loan
- 90000000
- Pricing range
- SOFR + 275-350 bps
- Revolving line
- 25000000
- Initial pricing
- SOFR + 325 bps
- Restaurants sold
- 116
- Accordion capacity
- 20000000
- Remaining sale proceeds
- $6.6 million
- Refranchising gross proceeds
- $89.4 million
- Total refranchising proceeds
- $96 million
AI analysis
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