Dunkin' Brands launches $1.25 billion term B at Libor plus 300-325 bps

By Sara Rosenberg

New York, Feb. 4 - Dunkin' Brands Inc. launched its roughly $1.25 billion term loan B on Friday with price talk of Libor plus 300 basis points to 325 bps with a 1.25% Libor floor and an offer price of par, 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.

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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