Lucky Strike issues $500M 7.250% notes, refinances $1.2B term loan and $425M revolver

Lucky Strike Entertainment Corp

Issued $500M 7.250% senior secured notes due 2032; net proceeds used with new term loan to repay $1.28B term loan, $230M bridge loan, and revolver borrowings.
Issuer (Kingpin Intermediate) entered $1.2B new term loan facility with 7-year maturity and $425M revolving credit facility with 5-year maturity.
New revolver bears SOFR+3.00% (step-downs to 2.50%); term loan SOFR+3.25% (step-down to 3.00%). Both secured by substantially all assets.
Existing debt fully repaid; Amended Credit Agreement includes financial covenant requiring first lien net leverage ≤6.00x.

item 1.01item 2.03item 9.01

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