Gaylord Entertainment increases revolver to $100 million

By Sara Rosenberg

New York, Dec. 17 - Gaylord Entertainment Co. amended its revolving credit facility due May 22, 2006 to increase the size to $100 million from $65 million.

The facility carries an interest rate of Libor plus 350 basis points and is secured by a first-priority leasehold mortgage on the Gaylord Palms Resort & Convention Center in Kissimmee, Fla.

Proceeds will be used for general corporate purposes.

"The expansion of our revolver gives us increased liquidity and the financial flexibility to actively pursue growth opportunities as they present themselves," said David Kloeppel, chief financial officer, in a company news release. "We are pleased to have the confidence and support of our creditors as we continue to execute our strategy to enhance the Gaylord franchise."

Gaylord Entertainment is a Nashville, Tenn., hospitality and entertainment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.