Ignite Restaurant Group successfully closed on a new $195 million senior secured credit facility. The new four and a half year facility, which consists of a $165 million term loan and a $30 million revolving line of credit, replaces Ignite’s existing $150 million facility, which was comprised of a $50 million term loan and a $100 million revolving line of credit. As of the end of the company’s fiscal second quarter on June 30, 2014, the balance outstanding under the existing credit facility was $118.7 million.

Credit Suisse and KeyBanc Capital Markets Inc. acted as joint lead arrangers and joint book runners for the transaction.

Ignite Restaurant Group, Inc. owns and operates over 300 restaurants throughout the U.S. Headquartered in Houston, Ignite's portfolio of restaurant concepts includes Joe's Crab Shack, Romano's Macaroni Grill and Brick House Tavern + Tap. Each brand offers a variety of high-quality, chef-inspired food and beverages in a distinctive, casual, high-energy atmosphere. The company is also a franchisor for Macaroni Grill in locations in the U.S., U.S. territories and internationally.