0.09%QQQQ 50.01 0.08%MSFT 29.99 
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LOS ANGELES (AP) - Gourmet pizza restaurant chain California Pizza Kitchen Inc. said Thursday it entered into a new $150 million credit facility with a syndicate of banks.
| CPKI | 16 |  -0.37 |
The company said the five-year facility includes an option to raise the amount by another $50 million. The facility matures on May 7, 2013.
California Pizza Kitchen said the new facility replaces its existing $100 million line of credit with Bank of America, N.A.
The company said the proceeds of the new facility will be used for working capital, capital expenditures, shares buybacks and other general corporate purposes.
California Pizza Kitchen shares fell 3 cents to close at $16.01.
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