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EX-10.1 - EX-10.1 - ISLE OF CAPRI CASINOS INCa13-13147_4ex10d1.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 2, 2013

 

ISLE OF CAPRI CASINOS, INC.

(Exact name of Registrant as specified in its charter)

 

Delaware

 

0-20538

 

41-1659606

(State or other

jurisdiction of incorporation)

 

(Commission

File Number)

 

(IRS Employer
Identification Number)

 

600 Emerson Road, Suite 300,
St. Louis, Missouri

(Address of principal executive
offices)

 

63141

(Zip Code)

 

 

(314) 813-9200

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.245)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 1.01. Entry into a Material Definitive Agreement.

 

On July 2, 2013, Isle of Capri Casinos, Inc. (the “Company”) entered into the Fifth Amendment to Credit Agreement (the “Amendment”) among the Company, certain subsidiaries of the Company, Wells Fargo Bank, National Association, as Administrative Agent, and the other financial institutions listed therein.  The Amendment amends the Credit Agreement, dated as of July 26, 2007 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”).

 

The material terms of the Amendment are as follows:

 

1.             The definitions of “Adjusted Base Rate Margin”, “Adjusted LIBOR Margin” and “Commitment Fee Percentage” were amended to add a new pricing tier to correspond to an additional consolidated total leverage ratio range.

 

2.             The consolidated total leverage ratio and interest coverage ratio covenants were amended to provide greater flexibility for quarters ending after May 1, 2013.

 

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

 

The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)        Exhibits.

 

Exhibit No.

 

Description

10.1

 

Fifth Amendment to Credit Agreement, dated as of July 2, 2013, among Isle of Capri Casinos, Inc., as borrower, certain subsidiaries of Isle of Capri Casinos, Inc., the financial institutions listed therein, as lenders, Wells Fargo Bank, National Association, as administrative agent, and the other agents referred to therein.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

ISLE OF CAPRI CASINOS, INC.

 

 

 

  Date: July 2, 2013

 

By:

/s/ Edmund L. Quatmann, Jr.

 

 

Name:

Edmund L. Quatmann, Jr.

 

 

Title:

Chief Legal Officer and Secretary

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

10.1

 

Fifth Amendment to Credit Agreement, dated as of July 2, 2013, among Isle of Capri Casinos, Inc., as borrower, certain subsidiaries of Isle of Capri Casinos, Inc., the financial institutions listed therein, as lenders, Wells Fargo Bank, National Association, as administrative agent, and the other agents referred to therein.

 

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