Bowlero $900 million term loan refinancing and $35 million revolver increase
We advised the borrower on the transaction
Davis Polk advised Bowlero Corp. in connection with a $900 million refinancing term loan facility and a $35 million increase to its existing revolving credit facility, which increased the aggregate commitments under the revolving credit facility to $200 million. The proceeds from the term loan facility were used to refinance Bowlero’s existing term loan facility, repay outstanding existing borrowings under the revolving credit facility and for general corporate purposes.
Bowlero Corp. is the worldwide leader in bowling entertainment. With more than 325 bowling centers across North America, Bowlero Corp. serves nearly 30 million guests each year through a family of brands that includes Bowlero and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which boasts thousands of members and millions of fans across the globe.
The Davis Polk finance team included partner Hilary Dengel, counsel Robert F. Smith and associate Natalie Lin. Partner Ethan R. Goldman and associates Liang Zhang and Michael Mirabella provided tax advice. Counsel Susan D. Kennedy and associate David Beizer provided real estate advice. Counsel Sarah E. Kim and associate Caroline R. Zhang provided 40 Act advice. All members of the Davis Polk team are based in the New York office.