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CPK agrees to $46.3M repurchase; amends $100M credit facility

LOS ANGELES California Pizza Kitchen Inc. said Friday it entered into an agreement with Bank of America N.A. to both close on an accelerated stock repurchase program totaling $46.3 million and to increase its credit facility to a maximum of $100 million.

The company, which operates or franchises about 230 restaurants, said the moves would help it return capital to shareholders, leverage its balance sheet and reduce the overall cost of capital.


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