Red Robin refinances with $115M five-year facility: $90M term loan, $25M revolver maturing Oct 2, 2031

RED ROBIN GOURMET BURGERS INC

New Credit Agreement dated October 2, 2026 replaces the March 4, 2022 prior credit agreement, which was terminated and paid off in full.
Initial pricing on the term loan and revolver is SOFR plus 325 bps, ranging 275-350 bps based on leverage ratio, with no SOFR floor.
Term loan amortization: 5.0% annually through year two, 7.5% years two to four, then 10%; revolver requires no amortization.
Facility can be upsized by up to $20M with lender participation; Red Robin International, Inc. is borrower, with the Company and subsidiaries as guarantors.
Refinancing follows refranchising of 108 restaurants for ~$89.4M, with 8 more Op Burgers locations expected to close for ~$6.6M, totaling ~$96M from 116 stores.

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