Morton's amends loan, increasing stock repurchase cap

By Sara Rosenberg

New York, Sept. 26 - Morton's Restaurant Group Inc. amended its credit facility, increasing the stock repurchase cap by $10 million to $20 million, according to an 8-K filed with the Securities and Exchange Commission Friday.

In addition, the amendment includes changes to provisions relating to certain covenant calculations to exclude from them certain joint venture transactions that may be entered into by the company from time to time.

The amendment was completed on Sept. 24.

Wachovia Bank is the administrative agent on the deal.

Morton's is a Chicago-based owner and operator of restaurants.

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