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 Centerplate
Atlantic American arranged a $215 million senior secured credit facility, underwritten and provided by General Electric Capital Corporation. The facility was comprised of a $107.5 million term loan and a $107.5 million revolving credit facility. The proceeds of the term loan were used to repay the pre-existing $65 million term loan and outstanding revolving loans, as well as transaction fees and expenses, including a prepayment premium and also provided Centerplate with acquisition capital for access to new service contracts and the ability to explore complementary corporate acquisitions. The revolving portion of the new credit facility replaces the company's pre-existing $50 million revolving credit facility. For more information about Centerplate, visit www.centerplate.com. |
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Centerplate, Inc. (AMEX: CVP), headquartered in Spartanburg, SC, is a leading provider of catering, concessions, merchandise and facility management services for sports facilities, convention centers and other entertainment venues. In 2004, the company generated over $600 million of revenues from 133 venues, including Yankee Stadium.