Bowlmor AMF to launch $430 million credit facility on Monday

By Sara Rosenberg

New York, July 24 – Bowlmor AMF Corp. is set to hold a bank meeting at 3 p.m. ET in New York on Monday to launch a $430 million credit facility, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The facility consists of a $30 million revolver and a $400 million seven-year first-lien term loan, the source said.

The term loan has 101 soft call protection for one year and maximum total leverage and maximum capital expenditures covenants.

Proceeds will be used to help fund the acquisition of Brunswick Corp.’s bowling business for $270 million.

Other funds for the transaction will come from a sale-leaseback on a significant pool of real estate.

Commitments are due on Aug. 7, the source added.

Bowlmor is an operator of bowling centers.

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