Bloomin' Brands to redeem all 10% notes with common stock proceeds

By Ashley Montgomery

Kansas City, Kan., April 9 - Bloomin' Brands, Inc. intends to use the proceeds from its initial public offering of common stock to redeem all $248.1 million outstanding of its 10% senior notes due June 15, 2015, according to an S-1 filing with the Securities and Exchange Commission.

Any remaining proceeds will be used for working capital and general corporate purposes.

Bloomin' Brands, based in Tampa, Fla., owns and operates casual dining restaurants.

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