Cracker Barrel tweaks debt deals

By Geert De Lombaerde Posted on November 6, 2009 at 12:34 pm

CFO Sandy Cochran has renegotiated the maturity dates of Cracker Barrel’s revolving line of credit (while also shrinking it by a third) and long-term loans. About two-thirds of the revolver now won’t be due until 2013, about 40 percent of the term loans until 2016. The tweaks will add about $2 million in interest costs this fiscal year for Cracker Barrel, whose shares (Ticker: CBRL) are flat on the day.

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Tags: Cracker Barrel Old Country Store Inc., debt, debt covenants, restaurants, retail  

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