Texas Roadhouse amends credit agreement to replace LIBOR with SOFR benchmark

Texas Roadhouse, Inc.

Amendment No. 3 transitions from LIBOR to Term SOFR plus fixed 0.10% adjustment and variable spread of 0.875%-1.875% based on leverage ratio.
No outstanding borrowings under the $300M revolving facility at time of transition; accordion feature allows up to $500M total.
Credit agreement remains unsecured; lenders led by JPMorgan and PNC; effective May 19, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Texas Roadhouse, Inc. amended Amendment No. 3 to Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. and PNC Bank, National Association valued at $300.0 million (with option to increase by additional $200.0 million) (effective 2023-05-19).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. and PNC Bank, National Association
Value: $300.0 million (with option to increase by additional $200.0 million)
Effective: 2023-05-19

Exact text from the filing

On May 19, 2023, Texas Roadhouse, Inc., a Delaware corporation (the "Company"), and certain of its subsidiaries entered into a Amendment No. 3 to Amended and Restated Credit Agreement (the "Amendment No. 3"), further amending the Amended and Restated Credit Agreement dated August 7, 2017 (the "Amended Credit Agreement") with a syndicate of commercial lenders led by JPMorgan Chase Bank, N.A. and PNC Bank, National Association.

View on SEC.gov

281 material agreements filed in the last 30 days. Browse all material agreements →

Texas Roadhouse, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-062707

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.