ClubCorp Holdings, Inc. Completes Repricing of $901 Million Senior Secured Term Loan

May 28, 2015, 16:03 ET from ClubCorp Holdings, Inc.

DALLAS, May 28, 2015 /PRNewswire/ -- ClubCorp – The World Leader in Private Clubs® (NYSE: MYCC) – announced today that it has completed the repricing of its $901 million senior secured term loan.  ClubCorp's credit agreement was amended to decrease the rate at which Term B loans bear interest. ClubCorp obtained a 25 basis point rate reduction, such that its Term B loans will bear interest at a rate of L+325 bps, with a 1% LIBOR floor.  No covenants were changed or amended and the term loan facility continues to mature on July 24, 2020.

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About ClubCorp Since its founding in 1957, Dallas-based ClubCorp has operated with the central purpose of Building Relationships and Enriching Lives®. ClubCorp is a leading owner-operator of private golf and country clubs and private business clubs in North America. ClubCorp owns or operates a portfolio of over 200 golf and country clubs, business clubs, sports clubs, and alumni clubs in 26 states, the District of Columbia and two foreign countries that serve over 430,000 members, with approximately 20,000 peak-season employees. ClubCorp Holdings, Inc. is a publicly traded company on the New York Stock Exchange (NYSE: MYCC). ClubCorp properties include: Firestone Country Club (Akron, Ohio); Mission Hills Country Club (Rancho Mirage, California); The Woodlands Country Club (The Woodlands, Texas); Capital Club Beijing; and Metropolitan Club Chicago. You can find ClubCorp on Facebook at facebook.com/clubcorp and on Twitter at @ClubCorp.

 

SOURCE ClubCorp Holdings, Inc.