Full house resorts announces $15.0 million senior secured revolving credit facility
Las vegas, march 31, 2021 (globe newswire) -- full house resorts, inc. (nasdaq: fll) announced today that it has entered into an agreement for a five-year, senior secured revolving credit facility. the $15.0 million credit facility may be used for working capital, letters of credit, and other ongoing general purposes. until the completion of the company's chamonix project in cripple creek, colorado, the interest rate per annum applicable to loans under the credit facility will be, at the company's option, either (i) libor plus a margin equal to 3.50%, or (ii) a base rate plus a margin equal to 2.50%. after completion of chamonix (as defined in the credit agreement), the interest rate per annum applicable to loans under the credit facility reduces to, at the company's option, either (i) libor plus a margin equal to 3.00%, or (ii) a base rate plus a margin equal to 2.00%. the commitment fee per annum is equal to 0.50% of the unused portion of the credit facility. as of march 31, 2021, there are no drawn amounts under the credit facility.
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