Krispy Kreme Announces Completion of Refinancing

February 16, 2007

Cahill served as borrower's counsel to Krispy Kreme Doughnuts, Inc. in connection with a Senior Secured Credit Facility aggregating $160,000,000, comprised of a $50,000,000 Revolving Credit Facility and a $110,000,000 Term Loan. Proceeds of the term loan were used to repay the approximately $107,000,000  outstanding balance under the Company’s prior credit facility (which was retired), and to pay related fees and expenses.