IHOP Completes Deal Extending Credit Line

IHOP Corp. said it has completed an agreement with Continental Bank N.A. to extend its $10-million revolving credit line through June 30, 1995.

The Glendale-based operator and franchiser of International House of Pancakes restaurants said the credit line will be used for general corporate purposes, including the development of more restaurants. IHOP currently has 550 restaurants, of which 382 are operated by franchisees and the rest by the company and its licensees.