Dunkin' launches $1.83 billion term loan at Libor plus 225-250 bps

By Sara Rosenberg

New York, Jan. 23 - Dunkin' Brands Group Inc. scheduled a call for 2 p.m. ET on Thursday to launch a $1.83 billion term loan due 2021 that is talked at Libor plus 225 basis points to 250 bps with a 0.75% Libor floor and an offer price of 99¾ to par, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC, Barclays and Goldman Sachs Bank USA are the lead banks on the deal.

Proceeds will be used to refinance an existing term loan due 2020 that is priced at Libor plus 275 bps with a 1% Libor floor.

Closing is expected within the next two weeks.

Dunkin' Brands is a Canton, Mass.-based franchisor of quick-service restaurants serving hot and cold coffee and baked goods as well as hard-serve ice cream.

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