O'Charley's revolver size lowered to $83 million with completion of asset sale

By Sara Rosenberg

New York, Aug. 19 - O'Charley's Inc. revolving credit facility has been reduced to $83 million from $90 million, effective Aug. 10, according to a 10-Q filed with the Securities and Exchange Commission on Wednesday.

The reduction was a result of the sale of assets at the company's distribution facility in Bellingham, Mass.

Under the credit agreement, net cash proceeds from an asset sale must result in an equal permanent reduction to the revolver commitment, rounded to the nearest $1 million.

O'Charley's is a Nashville, Tenn.-based multi-concept restaurant company.

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