Steak n Shake (SNS) Enters Credit Agreement with Fifth Third Bank
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Steak n Shake Operations, Inc. (NYSE: SNS) entereed into a Credit Agreement with Fifth Third Bank.
The Credit Agreement extends to the Company a $20 million revolving credit facility available for working capital and general corporate purposes. The new credit facility matures on February 15, 2011. The Agreement replaces the Registrant's previous $20 million credit facility with Fifth Third Bank, amended July 8, 2009, which was due to expire in January 2010. The Registrant did not incur any early termination penalties on the cessation of the previous credit facility. The outstanding balance on the concluded facility has been assumed under the Agreement.
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