O'Charley's bank meeting Wednesday for $285 million loan

By Sara Rosenberg

New York, Dec. 3 - O'Charley's Inc. is scheduled to hold a bank meeting on Wednesday regarding a new $285 million credit facility, according to a syndicate source. Wachovia Bank is the lead bank on the deal.

The loan consists of a $135 million revolver and a $150 million term loan B with an interest rate of Libor plus 350 basis points.

Proceeds will be used to help fund the acquisition of Ninety Nine Restaurant & Pub for approximately $160 million. The acquisition is expected to close in the first quarter of 2003.

O'Charley's is a Nashville restaurant chain.

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