News

Dunkin' Brands refinancing debt

Dunkin' Brands' is refinancing $1.8 billion in senior secured credit facilities with $2.3 billion of senior fixed-rate term notes and $100 million of variable funding notes.

January 7, 2015

Dunkin' Brands Group Inc., the parent company of Dunkin' Donuts and Baskin-Robbins,  has announced its intention to refinance its senior secured credit facilities with a new securitized financing facility.

As of Sept. 27, the outstanding balance under Dunkin' Brands' senior secured credit facility was approximately $1.8 billion. Dunkin' Brands intends to replace its senior secured credit facility with a new securitized financing facility, expected to be comprised of $2.3 billion of senior fixed-rate term notes and $100 million of variable funding notes. The net proceeds of the securitized financing facility are expected to be used to repay all of the existing indebtedness under the senior secured credit facility, pay the transaction costs and fund the reserve accounts associated with the refinancing, and for general corporate purposes, which may include stock repurchases.