CEC Entertainment, LLC, a nationally recognized leader in family entertainment and dining, announces that it closed a $650 million offering of its 6.750% senior secured notes due 2026 and a new $50 million revolving credit facility. A team from Akin Gump advised the company in the two transactions.
CEC Entertainment utilized the proceeds of the notes offering to refinance in whole its existing first-lien term loan and second-lien term loan, to pay fees and expenses related to the offering and the revolving credit facility, and to increase its cash available for general corporate purposes.
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The Akin Gump team advising CEC Entertainment included Daniel Fisher, leader of the firm’s integrated special situations group; capital markets partners Garrett DeVries and Ryan Cox; finance partner Lucas Charleston; counsel Clare Joyce, Paul Monsour and Kevin Schott; and associates Sam Alexander, Tyler Conte and Joseph Lumley.