Hotels, Restaurants and Leisure
Company Overview of ClubCorp Club Operations, Inc.
ClubCorp Club Operations, Inc., together with its subsidiaries, owns and manages private golf, country, business, sports, and alumni clubs in North America. The company operates in two segments, Golf and Country Clubs; and Business, Sports, and Alumni Clubs. The Golf and Country Clubs segment provides facilities for golf, tennis, swimming, and other outdoor activities. The Business, Sports, and Alumni Clubs segment offers dining rooms, bar areas, and private meeting rooms; and fitness and racquet facilities, as well as provides connection between the universities, and their alumni and faculty. As of December 31, 2013, the company had a portfolio of 154 owned or operated clubs serving approxi...
3030 LBJ Freeway
Dallas, TX 75234
Founded in 1957
Key Executives for ClubCorp Club Operations, Inc.
Chief Executive Officer, President and Director
Editor-in-Chief of Private Clubs magazine
Chief Financial Officer, Principal Accounting Officer and Treasurer
President of The Pinehurst Company
Compensation as of Fiscal Year 2016.
ClubCorp Club Operations, Inc. Key Developments
ClubCorp Club Operations, Inc. Issues $350.0 Million Aggregate Principal Amount of its 8.25% Senior Notes Due 2023
Dec 15 15
On December 15, 2015, ClubCorp Club Operations, Inc. entered into an indenture, dated as of December 15, 2015, among Operations, the guarantors party thereto and Wilmington Trust, National Association, as trustee, and issued $350.0 million aggregate principal amount of its 8.25% Senior Notes due 2023 there under. The Senior Notes are guaranteed by the subsidiaries of Operations that guarantee its obligations under its Credit Agreement on a full and unconditional basis. The following is a brief description of the material provisions of the Indenture and the Senior Notes. The Senior Notes will mature on December 15, 2023. Interest on the Senior Notes will accrue at the rate of 8.25% per annum and will be payable semiannually in arrears on June 15 and December 15, commencing on June 15, 2016.
ClubCorp Club Operations Prices $350 Million 8.25% Senior Notes Due 2023
Dec 7 15
ClubCorp Club Operations has priced its previously announced offering of $350 million aggregate principal amount of 8.25% senior notes due 2023. The company intends to use the net proceeds of approximately $343.2 million for general corporate purposes. The offering is expected to close on December 15, subject to customary closing conditions.
ClubCorp Club Operations, Inc. Intends to Offer $400 Million in Aggregate Principal Amount of Senior Notes Due 2023
Dec 1 15
ClubCorp Club Operations, Inc. intends to offer $400 million in aggregate principal amount of senior notes due 2023, subject to market and other conditions. The Senior Notes are expected to be guaranteed on a senior unsecured basis by all of Operations' wholly-owned restricted subsidiaries that guarantee Operations' secured credit facilities. Operations intends to use the net proceeds from such offering for general corporate purposes, including to repay indebtedness under Operations' existing secured credit facilities and for acquisitions. On December 1, 2015, Operations entered into discussions with its lenders under its existing secured credit facilities to amend its existing credit agreement to provide for a new seven-year term loan facility in an amount of $625.0 million the net proceeds from which, together with the net proceeds from the offering of the Senior Notes, is expected to be used in part to repay amounts outstanding under its existing secured credit facilities. The revolving credit facility under the amended credit agreement is expected to remain the same as the existing credit agreement, but upon receiving commitments from lenders for such revolving credit facility, Operations intends to amend its existing credit agreement to provide for such revolving credit facility to be increased to $175.0 million with a five year term extending from the closing of such increase.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|