Potbelly (PBPB) Enters New $30M Credit Facility
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Potbelly Corporation Announces New Three-Year, $30 Million Credit Facility
February 12, 2024 8:00 AM ESTCHICAGO, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), (Potbelly or the Company) the iconic neighborhood sandwich shop concept, today announced that the Company has closed a new $30 million revolving credit facility (the Facility) that matures on February 7, 2027 led by Wintrust Bank.
Under the terms of the new Facility, the Company achieved a 600-basis point reduction in the currently applicable interest rate margin relative to the prior term loan. The Facility currently bears an interest rate of SOFR + 325 basis points (as compared to an interest rate of SOFR + 925 basis points under the... More
