Dave & Buster’s lifts term loan B to $900 million, firms OID at 99

By Sara Rosenberg

New York, June 28 – Dave & Buster’s Inc. upsized its covenant-lite term loan B due June 2029 to $900 million from $844 million and finalized the original issue discount at 99, the tight end of the 98.5 to 99 talk, according to a market source.

Pricing on the term loan remained at SOFR+10 basis points CSA plus 375 bps with a 0.5% floor.

The term loan still has 101 soft call protection for six months.

Deutsche Bank Securities Inc., JPMorgan Chase Bank, BMO Capital Markets, Wells Fargo Securities LLC, Truist, Capital One and Fifth Third are the bookrunners on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to refinance an existing $844 million term loan B due June 2029 priced at SOFR+10 bps CSA plus 500 bps with a 0.5% floor, and the funds from the upsizing will be used for general corporate purposes.

Dave & Buster’s is a Coppell, Tex.-based owner and operator of entertainment and dining venues.

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