Papa John’s plans to increase, extend revolving credit facility

Chicago, Sept. 7 – Papa John’s International, Inc. announced plans to amend and restate its revolving credit agreement that lists JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission on Tuesday.

The company intends to increase borrowings to $600 million and extend the term an additional five years.

The changes are intended to take place in connection with a new offering of notes.

Proceeds from the new notes and borrowings under the amended facility will be used to repay outstanding borrowings under the company’s existing revolver and term loan facility and to pay all related fees and expenses.

Papa John’s is a Louisville, Ky.-based pizza chain.

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