Dunkin' Brands completes securitisation refinancing

The 2017 Notes include $1.4b Class A-2 Senior Secured Notes, which consist of two tranches with repayment dates of 7 and 10 years.

Dunkin' Brands Group, Inc., the parent company of Dunkin' Donuts and Baskin-Robbins, announced that it has completed its previously announced recapitalization transaction as planned, with the placement by its special purpose subsidiary (the "Master Issuer") of a new series of $1.55 billion of securitized notes.

The 2017 Notes include $1.4 billion Class A-2 Senior Secured Notes ("the Senior Notes"), which consist of two tranches with anticipated repayment dates of seven years ($600 million) and ten years ($800 million). The Senior Notes will bear interest at a rate of 3.629% per annum for the seven year tranche and 4.030% per annum for the ten year tranche, payable quarterly.

The proceeds from the placement of the Senior Notes will be used to prepay and retire the Company's outstanding 2015 A-2-I fixed rate senior secured notes (the "2015 A-2-I Notes"), to pay transaction fees and for general corporate purposes, which may include a return of capital to shareholders. The Master Issuer will use approximately $731 million of the proceeds from the transaction to prepay in full and retire the 2015 A-2-I Notes.

The 2017 Notes also include a new $150 million variable funding note facility, which replaces the Company's existing variable funding note facility.

The Master Issuer and its subsidiaries hold or have the right to receive payments on substantially all of the Company's revenue-generating assets and will use cash flows generated from these assets to make interest and principal payments on the 2017 Notes.

Join QSRMedia UK community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The shop will help the chain build brand awareness as the company looks to grow its restaurant footprint.
It will have seating for 46 diners along with ‘grab and go’ options.
The location aims to showcase ‘takeaway classics' that founder Julian Denis and chef Harry Fox grew up with.
The chicken brand was created with British YouTube group The Sidemen.
Digital continues to be the main driver of the business, the company said.
The concept is the brainchild of Dayashankar Sharma, the executive chef behind fine-dining Indian restaurant Heritage Dulwich.
Revenues at the restaurants it has opened this year are “far more” than the chain had expected.
It joins a growing number of food companies that have announced global commitments to eliminate the use of cages in their egg supply chains.
The chain also appointed two more companies in the UK as part of its roster of franchisees.
It also has to open an additional 10 stores over the next two years.
The item was launched by the high street group in 2019 and helped to serve up a significant sales boost in the same year.
53% of consumers are actively counting calories or checking sugar content.