Shearman And Sterling

News May 31, 2023

Darden Restaurants $600 Million Delayed Draw Term Loan for Acquisition of Ruth’s Hospitality Group

Shearman & Sterling advised Bank of America, N.A. as Administrative Agent on a $600 million senior unsecured delayed draw term loan facility for Darden Restaurants, Inc. to finance the acquisition of Ruth’s Hospitality Group, Inc.

Headquartered in Orlando, Florida, Darden Restaurants owns and operates full-service dining restaurants in the United States and Canada under the trade names Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s Prime Seafood.

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