Braums melts loan for stores into one pot
by January 25, 1999 12:00 am 176 views
A $44 million refinancing of 195 Braum’s Ice Cream and Dairy Stores across five Midwestern states included the company’s 13 eateries in Northwest Arkansas.
The Dec. 16 transaction included both $44 million in new money, borrowed from the John Hancock Mutual Life Insurance Co. of Massachusetts, and the consolidation and reduction of some remaining corporate debt. W.H. Braum Inc. and its sister company Retail Buildings Inc., both of Oklahoma City, Okla., made the move to take advantage of lower interest rates and to help reduce and consolidate remaining corporate debt from a separate $85.4 million loan from 1992.
The refinancing included two each in Fayetteville, Springdale, Rogers, Bentonville and Fort Smith and single stores in Siloam Springs, Alma and Van Buren.
Signing for Braum’s and Retail Buildings were George H. and Wayne Braum, president and secretary, and W. Anthony Bostwick, vice-president. John Hancock vice-president G.D. Bran and secretary Antinietti Ricci signed for the lender.
Documents were filed in Benton, Washington, Crawford and Sebastian counties.