Dave & Buster’s Seeks Liquidity From $500 Million Junk Bond
- Company is suspending certain debt covenants as part of deal
- Dining and games chain struggled as Covid-19 hammered revenue
Photographer: Mark Davis/Getty Images
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Dave & Buster’s Entertainment Inc., the chain that features sports bars and arcade games, launched a junk bond sale Monday that would give the company more liquidity and provide relief from Covid-19 pressures.
The company is looking to borrow $500 million through the five-year secured note offering. Proceeds will repay a term loan and credit line, and be used for general corporate purposes.