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Dunkin' Brands readies launch of $1.25 billion term loan B for Friday
By Sara Rosenberg
New York, Feb. 3 - Dunkin' Brands Inc. is scheduled to hold a conference call at 11 a.m. ET on Friday to launch a roughly $1.25 billion term loan B, according to a market source.
Barclays, JPMorgan, Bank of America and Goldman Sachs are the lead banks on the deal.
Proceeds will be used to reprice/refinance an existing $1.25 billion term loan B that is priced at Libor plus 425 basis points with a 1.5% Libor floor and was sold at an original issue discount of 99½ when it was obtained late last year. The tranche includes 101 soft call protection for one year.
Price talk on the new term loan B is not yet available, but it will be lower than the existing pricing, the source said.
Canton, Mass.-based Dunkin' Brands is the parent company of Dunkin' Donuts, a coffee and baked goods restaurant chain, and Baskin-Robbins, an ice cream specialty store chain.
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