Dunkin' Brands Announces Proposed Borrowing of Additional Term Loans
May 04, 2011
CANTON, Mass. (May 4, 2011) – Dunkin’ Brands Group, Inc., the parent company of Dunkin’ Donuts and Baskin-Robbins, today announced that its subsidiary, Dunkin’ Brands, Inc., plans to borrow $100 million of additional term loans under its existing senior secured credit facility, subject to completion of definitive documentation, bringing the total amount of term loans to approximately $1.5 billion. The company plans to use the proceeds from the additional term loans to repay an equal amount of the company’s outstanding senior notes so that total debt will remain unchanged. The maturity date of the term loans will remain November 23, 2017.
About Dunkin’ Brands Group, Inc.
With more than 16,000 points of distribution in 57 countries worldwide, Dunkin’ Brands Group, Inc. is the world’s leading franchisor of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of 2010, Dunkin’ Brands’ nearly 100 percent franchised business model included 9,760 Dunkin’ Donuts restaurants and 6,433 Baskin-Robbins restaurants, and the company had system-wide sales of approximately $7.7 billion. Dunkin’ Brands Group, Inc. is headquartered in Canton, Mass. The Company’s website is located at www.dunkinbrands.com.
Certain statements in this press release are forward-looking statements. These statements involve a number of risks, uncertainties, and other factors including the failure to achieve financial results within the estimated ranges set forth above and the failure to consummate the proposed term loan re-pricing as well as potential changes in market conditions that could cause actual results to differ materially.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.