The company also announced the renewal of its $175 million syndicated line of credit facility through January 2011. Borrowings under the facility bear interest at rates tied to floating 30-day LIBOR, and the company further announced the execution of an interest rate swap agreement that fixes the base interest rate on a portion of the line of credit borrowings throughout the term of the facility. Seven lending institutions participate in the facility, which includes a $75 million uncommitted accordion feature. Amounts outstanding under the facility at January 22, 2006 were $39 million.
As of January 22, 2006, Papa John's had 2,912 restaurants (504 company-owned and 2,408 franchised) operating in 49 states and 22 countries. Papa John's also franchises 112 Perfect Pizza restaurants in the United Kingdom. For more information about the company, visit Papa John's at http://www.papajohns.com.
CONTACT: Papa John's International, Inc.
David Flanery, 502-261-4753
SOURCE: Papa John's International, Inc.