Logan’s Roadhouse updates financial covenants under credit agreement

By Marisa Wong

Morgantown, W.Va., April 1 – LRI Holdings, Inc. and wholly owned subsidiary Logan’s Roadhouse, Inc. entered into an amendment to their credit agreement dated Oct. 4, 2010 on March 28, according to an 8-K filed Friday with the Securities and Exchange Commission.

The amendment, among other things, replaces the consolidated first-lien leverage covenant with a new minimum EBITDA covenant and a new minimum liquidity covenant.

The amendment also revises reporting and capital expenditures covenants and adds provisions with respect to the impact of the European Union’s bail-in procedures on unsecured liabilities of non-U.S. financial institutions.

JPMorgan Chase Bank, NA is the administrative agent.

Logan’s is a Nashville-based restaurant chain.

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