The Pantry Restructures Debt Program

February 2006
Convenience Store News;2/13/2006, Vol. 42 Issue 2, p12
Trade Publication
The article presents information on the Pantry Inc., which is the largest convenience chain in the southeastern United States. Recently Pantry completed a reprising and renegotiation of certain terms of its senior secured credit facilities, including a term loan with a remaining balance of $205 million, as well as a $150 million revolving-credit facility. The term of the credit facilities was extended to January 2012, and annual principal repayments were reduced from $16 million to $2 million. The Pantry will incur a $1.9 million pre-tax charge in its first fiscal quarter in connection with the refinancing of its term loan.


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