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Topgolf
Completes New $275 Million Credit Facility
|
Dallas,
TX � September 2016 / Newsmaker Alert / Global
sports entertainment leader Topgolf®
has announced the closing of a five-year $175 million term loan and a five-year
$100 million revolving line of credit. This deal signifies a $175 million
increase to Topgolf�s previous arrangement, allowing for greater financial
flexibility as Topgolf executes on its plans to open venues throughout
the U.S.
�This
credit facility supplies us with the capital we need to introduce the Topgolf
concept to more cities and help grow the game of golf,� said Topgolf Chief
Financial Officer William Davenport. �We�re extremely pleased with the
support shown by our banks, which signals their belief in our strategy
and the strength of our company.�
JPMorgan
Chase Bank, N.A., RBC Capital Markets and SunTrust Robinson Humphrey, Inc.
acted as Joint Lead Arrangers and Joint Book Runners. JPMorgan Chase Bank,
N.A. is acting as Administrative Agent for the credit facilities, and RBC
Capital Markets and SunTrust Bank acted as Co-Syndication Agents.
This
transaction follows Topgolf�s two acquisitions this year of World Golf
Tour and Protracer as well as its announcement of receiving a major investment
from Providence Equity Partners. This summer, Topgolf opened its flagship
location on the Las Vegas Strip, featuring four levels of entertainment
with 108 hitting bays, two swimming pools, five bars, a concert venue,
a Callaway fitting studio, a retail shop and more.
About
Topgolf
Topgolf
is a global sports entertainment community creating the best times of your
life. With 29 venues serving 13 million guests annually and the world�s
largest digital golf audience, Topgolf has become a go-to destination for
fun both in-venue and online. The Topgolf games can be enjoyed by all ages
and skill levels, and the microchipped golf balls score themselves, providing
players with instant feedback on each shot�s accuracy and distance. Each
venue features climate-controlled hitting bays for year-round play, a chef-driven
food and beverage menu, music and hundreds of HDTVs. Topgolf also brings
interactive experiences to the community through its Topgolf U lessons,
leagues, The Topgolf Tour, KidZone parties, social and corporate events,
and the World Golf Tour (WGT) app. Topgolf�s lifestyle division, Topgolf
Media, creates advanced media content and cultivates partnerships and sponsorships
that enhance the Topgolf fan experience. To learn more about Topgolf, follow
@Topgolf
or visit www.topgolf.com.
Media
Contact:
Adrienne
Chance
Director
of Corporate Communications
Topgolf
214-501-5025 |
