Dine Brands Global, Inc. Completes Refinancing of its Existing Long-Term Debt Through a Securitization
“Dine’s asset-light business model provides us with access to the
attractive securitization market,” said
“The completion of the refinancing further affirms our strength and
leadership in restaurant franchising and reflects the confidence in our
brands,” said
The Co-Issuers also entered into a purchase agreement for the issuance
of up to
The net proceeds of the new facility will be used to repay the Company’s existing Series 2014-1 Class A-2, Fixed Rate Senior Secured Notes, for transaction costs associated with the refinancing and general corporate purposes.
As of
The Class A-2 Notes were sold to qualified institutional buyers in
About
Based in
Forward-Looking Statements
Statements contained in this press release may constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. You can identify these forward-looking
statements by words such as "may," "will," “would,” "should," “could,”
"expect," "anticipate," "believe," "estimate," "intend," "plan," “goal”
and other similar expressions. These statements involve known and
unknown risks, uncertainties and other factors, which may cause actual
results to be materially different from those expressed or implied in
such statements. These factors include, but are not limited to: general
economic conditions; Dine Brands’ level of indebtedness; compliance with
the terms of our securitized debt; Dine Brands’ ability to refinance its
current indebtedness or obtain additional financing; Dine Brands’
dependence on information technology; potential cyber incidents; the
implementation of restaurant development plans; Dine Brands’ dependence
on its franchisees; the concentration of our Applebee’s franchised
restaurants in a limited number of franchisees; the financial health of
Dine Brands’ franchisees; Dine Brands’ franchisees’ and other licensees’
compliance with Dine Brands’ quality standards and trademark usage;
general risks associated with the restaurant industry; potential harm to
our brands’ reputation; possible future impairment charges; the effects
of tax reform; trading volatility and fluctuations in the price of Dine
Brands’ common stock; Dine Brands’ ability to achieve the financial
guidance provided to investors; successful implementation of Dine
Brands’ business strategy; the availability of suitable locations for
new restaurants; shortages or interruptions in the supply or delivery of
products from third parties or availability of utilities; the management
and forecasting of appropriate inventory levels; development and
implementation of innovative marketing and use of social media; changing
health or dietary preference of consumers; risks associated with doing
business in international markets; the results of litigation and other
legal proceedings; third-party claims with respect to intellectual
property assets; Dine Brands’ ability to attract and retain management
and other key employees; compliance with federal, state and local
governmental regulations; risks associated with Dine Brands’
self-insurance; natural disasters or other series incidents; Dine
Brands’ success with development initiatives outside of its core
business; the adequacy of Dine Brands’ internal controls over financial
reporting and future changes in accounting standards; and other factors
discussed from time to time in Dine Brands’ Annual and Quarterly Reports
on Forms 10-K and 10-Q and in Dine Brands’ other filings with the
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Source:
Investor Contact
Ken Diptee
Executive
Director, Investor Relations
Dine Brands Global, Inc.
818-637-3632
Media Contact
Thien Ho
Executive
Director, Communications
Dine Brands Global, Inc.
818-549-4238