RIDGEFIELD, Conn., Dec. 13, 2017 (GLOBE NEWSWIRE) -- The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) (“the Company”) today announced that it has completed the repricing of its existing $289 million term loans under its senior secured term loan B facility (the “Term Loan Facility”). The Term Loan Facility was repriced from 475 basis points to 400 basis points over LIBOR. The LIBOR floor remains at 100 basis points. The repriced loans continue to be due in full on June 22, 2022.
“We are pleased to have closed this amendment to our existing credit facility, which will reduce our interest expense leaving us with more cash to grow and operate the business,” said Chris Pappas, chairman and chief executive officer of The Chefs' Warehouse, Inc.
Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the Company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties and are based on current expectations and management estimates; actual results may differ materially. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. A more detailed description of these and other risk factors is contained in the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 10, 2017 and other reports filed by the Company with the SEC since that date. The Company is not undertaking to update any information in the foregoing report until the effective date of its future reports required by applicable laws. Any projections of future results of operations are based on a number of assumptions, many of which are outside the Company's control and should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. The Company may from time to time update these publicly announced projections, but it is not obligated to do so.
About The Chefs' Warehouse
The Chefs' Warehouse, Inc. (http://www.chefswarehouse.com) is a premier distributor of specialty food products in the United States and Canada focused on serving the specific needs of chefs who own and/or operate some of the nation's leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores. The Chefs' Warehouse, Inc. carries and distributes more than 43,000 products to more than 28,000 customer locations throughout the United States and Canada.
Contact:
Investor Relations:
Jim Leddy, (718) 684-8415
Source: The Chefs' Warehouse, Inc.
