Red Robin Gourmet Burgers, Inc. Completes Refinancing to Strengthen Financial Foundation and Support First Choice Plan
Key Highlights
- ➤$115 million refinancing completed October 2, 2026, replacing Red Robin’s prior credit agreement
- ➤Facility includes $25 million revolver and $90 million term loan, maturing October 2, 2031
- ➤108 restaurant sales generated approximately $89.4 million in gross proceeds
- ➤Eight additional restaurant sales could bring total proceeds to approximately $96 million
- ➤Initial borrowing rate is SOFR plus 325 basis points, with no SOFR floor
Expert Statements
Dave Pace, President and Chief Executive Officer of Red Robin
“Completing our refinancing is an important step forward for Red Robin and a key priority of our First Choice Plan”
Dave Pace, President and Chief Executive Officer of Red Robin
“When we set out to strengthen our balance sheet, we knew it would be a multi-step process.”
Dave Pace, President and Chief Executive Officer of Red Robin
“Refranchising was the first in order to position us to refinance our debt.”
Dave Pace, President and Chief Executive Officer of Red Robin
“With this new facility in place, we have a stronger financial foundation from which to execute the other elements of the First Choice Plan, along with a longer runway and greater financial flexibility to invest in our restaurants, enhance guest experience and support our franchise partners.”
Dave Pace, President and Chief Executive Officer of Red Robin
“I want to thank our Team Members, franchise partners, lenders and advisors for their commitment and support throughout this process.”
Red Robin Gourmet Burgers, Inc. Completes Refinancing to Strengthen Financial Foundation and Support First Choice Plan PR Newswire
ENGLEWOOD, Colo., Oct. 5, 2026 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a casual dining restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today announced it completed the refinancing of its secured credit facility (the "Credit Facility") on October 2, 2026. The new facility replaces the Company's prior credit agreement and follows the substantial completion of its refranchising transactions, the first step in strengthening the balance sheet under the First Choice Plan.
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