CEC Leisure raises $650 million by way of non-public notes providing and enters into $50 million revolving credit score facility

IRVING, Texas, April 23, 2021 / PRNewswire / – CEC Entertainment, LLC (“CEC Entertainment” or the “Company”), a nationally recognized leader in family entertainment and hospitality, today announced that it: a $ 650 million Offering its 6.750% Senior Secured Notes due 2026 (the “Notes”) and a new one $ 50 million revolving credit facility (the “Revolving Credit Facility”).

The Company used the proceeds of the Notes Offering to fully refinance its existing first and second maturity loans (including any applicable aggregate premiums), to pay fees and expenses related to the Offering and the Revolving Credit Facility, and to increase cash available for general corporate purposes.

“This refinancing gives CEC Entertainment more liquidity and more financial flexibility as we continue to recover from the COVID-hit business environment,” he said Jim Howell, CFO of CEC Entertainment. “The refinancing and the new revolving credit facility recognize the company’s strong family-friendly restaurant and entertainment brands and enable the company to achieve significant future growth.”

The Notes have been offered and sold only to and outside of persons believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) The United States, only to non-US persons who comply with Regulation S of the Securities Act.

The bonds mature May 1, 2026Both the Notes and the Revolving Credit Facility are guaranteed on a senior basis by CEC Entertainment Holdings II, LLC, the Company’s parent company, and the Company’s existing and future domestic subsidiaries. The Notes and Guarantees are backed by overriding security interests over substantially all of the Company and the Guarantors’ existing and future assets, subject to certain exceptions and permitted mortgages, which are the same assets that secure the Revolving Credit Facility for a “Super Priority” ” -Base.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

about the company
CEC Entertainment, LLC is the nationally recognized leader in family entertainment and dining with Chuck E. Cheese, Peter Piper Pizza, and Pasqually’s Pizza & Wings brands. Chuck E. Cheese is where a million happy birthdays are celebrated every year. His goal is to create positive, lifelong memories for families through fun, food, and play. Here a child can be a child. Chuck E. Cheese is committed to creating a fun and safe environment and protecting families through industry-leading programs like Kid Check®. A strong advocate of his local communities, Chuck E. Cheese has donated more than $ 16 million to schools through its fundraising programs. Peter Piper Pizza offers food, entertainment and souvenirs with pizzeria flair in the neighborhood and the culture “Pizza freshly made, families happy”. Peter Piper Pizza prides itself on delivering quality food and fun that reconnects family and friends. With a bold design and contemporary layout, an open kitchen that reveals much of their handcrafted food preparation, the latest technology and games, and adult beer and wine, the Peter Piper pizza restaurants appeal to parents and children alike. The company and its franchisees operate a system of 558 Chuck E. Cheese and 114 Peter Piper Pizza locations, with locations in 47 states and 15 countries and territories. More information is available at chuckecheese.com and peterpiperpizza.com.

Media contact
Brian Bell
[email protected]

SOURCE CEC Entertainment, Inc.