Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers D > Headlines for Dine Brands Global, Inc. > News item |
Dine Brands gets replacement notes for upsized capacity, better pricing
By Marisa Wong
Morgantown, W.Va., Sept. 6 – Dine Brands Global, Inc. announced it replaced its previous series 2014-1 class A-1 variable funding senior notes with new series 2018-1 class A-1 variable funding senior notes, significantly increasing its financing capacity.
The new notes allow for drawings of up to $225 million on a revolving basis and will bear interest at 215 basis points over the Eurodollar funding rate or the commercial paper rate, according to a press release.
The previous notes allowed for drawings of up to $100 million, and the interest rate margin was 250 bps.
The new notes are due Sept. 7, 2021, subject to four additional one-year extensions.
Wholly owned subsidiaries Applebee’s Funding LLC and IHOP Funding LLC are co-issuers under the financing facility.
Barclays Bank plc is the letter-of-credit provider, swingline lender and administrative agent under the note purchase agreement.
Dine Brands is the Glendale, Calif.-based parent company of Applebee’s Neighborhood Grill & Bar and IHOP restaurants.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.