DineEquity repurchased $59.3 million 9½% senior notes during 2011

By Tali David

Minneapolis, March 1 - DineEquity, Inc. repurchased $59.3 million of its 9½% senior notes during the 2011 fiscal year, the company announced in a press release.

The transaction was part of a total of $308.6 million debt reduction for the year.

"I am pleased with our results for the fourth quarter and fiscal 2011. The company continued to generate robust free cash flow, pay down debt, manage G&A and differentiate our brands," DineEquity chairman and chief executive officer Julia A. Stewart said in the release.

DineEquity is a Glendale, Calif.-based owner of Applebee's Neighborhood Grill & Bar and IHOP Restaurants.

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