Darden Restaurants amends credit facility covenants and secures $600M term loan for Chuy's acquisition

DARDEN RESTAURANTS INC

Replaced debt-to-capitalization covenant with max leverage ratio of 3.50x (4.00x after covered acquisition).
Entered $600 million senior unsecured 2-year term loan agreement to finance Chuy's Holdings acquisition.
Term loan allows single borrowing by Feb 17, 2025; no draws yet as of filing date.
Interest based on Term SOFR plus margin tied to credit ratings; consistent with existing credit agreement.

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