News

Papa John's enters new $175 million credit facility

September 8, 2010

Papa John's has entered into a more flexible five-year revolving credit facility, according to Reuters. The credit line is for $175 million, and replaces one of the same amount.

From the story:

In a filing with the U.S. Securities and Exchange Commission, the company, which competes with Domino's Pizza Inc. and Yum Brands Inc's Pizza Hut, said the credit facility includes a $75 million uncommitted accordion feature.

An accordion feature typically gives the company the right to increase its line of credit or similar type of liability with a lender.