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Papa Murphy's refinancing to benefit earnings

Papa Murphy's announced the closing of a $112 million senior secured loan and a $20 million revolving credit facility today.

August 29, 2014

Papa Murphy's announced the closing of a $112 million senior secured loan and a $20 million revolving credit facility today, replacing the company's loan of the same amount and the $10 million revolving credit facility, which has a current balance of $112.1 million.

The refinancing allows a yearly $2.25 million reduction in cash interest. Annual earnings per share are expected to benefit by $0.09 to $0.10, the release said.