Darden Restaurants calls $100 million of debt for redemption in August

By Susanna Moon

Chicago, Aug. 11 – Darden Restaurants, Inc. said it called $100 million of debt for redemption in August.

The company already repurchased about $900 million notes, out of its planned $1 billion debt retirement, leaving about $1.6 billion of debt on its balance sheet, according to a company press release.

The company said it used proceeds from its sale of Red Lobster to retire the debt and to begin a $500 million accelerated stock buyback program.

Darden is an Orlando, Fla.-based casual dining operator.

© 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.