Dine Brands Global Announces $600M Fixed Rate Senior Secured Notes Offering
Benzinga · 06/05 11:05
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Dine Brands Global, Inc. (NYSE:DIN) ("Dine Brands" or the "Corporation"), the parent company of Applebee's Neighborhood Grill + Bar®, IHOP® restaurants and Fuzzy's Taco Shop®, today announced that it has entered into a purchase agreement (the "Purchase Agreement") under which two of the Corporation's indirect, special purpose subsidiaries (the "Co-Issuers") have agreed to issue and sell the Series 2025-1 Class A-2, Fixed Rate Senior Secured Notes (the "Class A-2 Notes") in an initial principal amount of $600 million. Under the Purchase Agreement, the Class A-2 Notes will bear interest at a rate of 6.720% per annum, payable quarterly, and will have an expected term of five years.
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