Noodles lifts revolver to $75 million, extends maturity to 2020

By Marisa Wong

Madison, Wis., June 5 – Noodles & Co. amended its amended and restated credit agreement on June 4 to increase the maximum principal amount of its revolving credit facility to $75 million from $45 million, according to an 8-K filing with the Securities and Exchange Commission.

The revolver may be further increased by up to an additional $15 million.

The company also extended the maturity date of the revolver to June 2020 from November 2018.

As of May 26, the company had about $22.4 million of outstanding debt under its revolving credit line, according to a press release.

Bank of America, NA is the administrative agent, letter-of-credit issuer and swingline lender.

The restaurant chain is based in Broomfield, Colo.

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