Dunkin' Brands, parent company of Dunkin' Donuts and Baskin-Robbins, today announced it has completed the refinancing of its senior secured credit facility, including its senior secured revolving credit facility.

According to a news release, the total debt of the company remains unchanged. The company refinanced its senior secured credit facilities with new credit facilities consisting of a $1.379 billion term loan due February 2021, a $450 million term loan due September 2017 and a $100 million revolving credit facility due February 2019.

The new interest rate on the term loan due February 2021 is LIBOR plus 2.50 percent with a LIBOR floor of 0.75 percent, while the interest rate on the term loan due September 2017 is LIBOR plus 2.50 percent with no LIBOR floor. The prior rate on the company's term loan facility had been LIBOR plus 2.75 percent with a LIBOR floor of 1.00 percent.

The new interest rate for the revolving credit facility is LIBOR plus 2.25 percent with no LIBOR floor (previously LIBOR plus 2.50 percent).

As a result, the company expects interest expense approximately $70 million in 2014.

"The strong credit market and high demand for Dunkin' Brands' term loan and revolving loan have enabled us to lower our weighted average cost of debt. As a result, we expect interest expense savings of $10 million in 2014," said Paul Carbone, Dunkin' Brands CFO.

Read more about operations management.

Related Content

User Comments – Give us your opinion!
Products & Services

Accessories

http://global.networldalliance.com/new/images/products/6293.png

6293/Accessories

LG 47LN549E

http://global.networldalliance.com/new/images/products/6437.png

6437/LG-47LN549E

LG 47WS50BS-B

http://global.networldalliance.com/new/images/products/6433.png

6433/LG-47WS50BS-B

Manager’s Red Book

http://global.networldalliance.com/new/images/products/6551.png

6551/Manager-s-Red-Book

ExpressNet

http://global.networldalliance.com/new/images/products/ExpressNet_iix.gif

1428/ExpressNet

Nationwide Criminal Records

http://global.networldalliance.com/new/images/products/Criminal_Search_iix.gif

1427/Nationwide-Criminal-Records

LG 55LN549E

http://global.networldalliance.com/new/images/products/6427.png

6427/LG-55LN549E

ReadyHire- a full-service recruitment approach for restaurants

http://global.networldalliance.com/new/images/products/6351.png

6351/ReadyHire-a-full-service-recruitment-approach-for-restaurants

LG 55LN541C

http://global.networldalliance.com/new/images/products/6429.png

6429/LG-55LN541C

Schoox

http://global.networldalliance.com/new/images/products/6549.png

6549/Schoox

CONNECT 2014 Mobile Innovation Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.