UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): December 16, 2002
Denny's Corporation
(Exact name of registrant as specified in its charter)
Delaware 0-18051 13-3487402
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State or other jurisdiction (Commission File No.) (I.R.S.Employer
of incorporation) Identification No.)
203 East Main Street, Spartanburg, SC 29319-9966
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (864) 597-8000
Item 5. Other Events
On December 16, 2002 Denny's Corporation announced that its operating
subsidiaries, Denny's, Inc. and Denny's Realty , Inc., had entered into a
new $125 million credit agreement to refinance the Company's prior credit
facility which was scheduled to expire in January 2003. The new facility will
mature on December 20, 2004 and is structured as a senior secured revolving
credit facility of which up to $60 million is available for the issuance of
letters of credit. The new facility, which is guaranteed by Denny's
Corporation and its principal subsidiaries, is generally secured by liens on
the same collateral that secured the prior facility as well as
first-priority mortgages on 246 owned restaurant properties.
For additional information regarding the new credit facility, see the
Company's press release, dated December 16, 2002, attached to this current
report as Exhibit 99.3.
Item 7. Exhibits
(c). Listed below are all the Exhibits filed as a part of this Current
Report.
Exhibit
No. Description
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99.1 Credit Agreement, dated as of December 16, 2002,
among Denny's, Inc. and Denny's Realty, Inc., as
borrowers, Denny's Corporation, Denny's Holdings,
Inc. and DFO, Inc., as guarantors, the lenders named
therein, JPMorgan Chase Bank, as administrative
agent, Foothill Capital Corporation, as syndication
agent and J.P. Morgan Securities Inc., as sole
advisor, lead arranger and bookrunner.
99.2 Guarantee and Collateral Agreement , dated as of
December 16, 2002, among Denny's Corporation,
Denny's Holdings, Inc. Denny's, Inc., Denny's
Realty, Inc., each other subsidiary loan party
referenced therein, and JPMorgan Chase, as
collateral agent.
99.3 Press Release of Denny's Corporation dated December
16, 2002.
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.
DENNY'S CORPORATION
Date: December 19, 2002 By: /s/ Rhonda J. Parish
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Rhonda J. Parish
Executive Vice President,
General Counsel and Secretary