This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dunkin' Brands Announces Refinancing Of Its Outstanding Credit Facility

CANTON, Mass., Feb. 14, 2013 /PRNewswire/ --  Dunkin' Brands Group, Inc. (Nasdaq: DNKN), the 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.

(Logo:  http://photos.prnewswire.com/prnh/20120516/NE07970LOGO  )

The total debt of the Company remains unchanged. The new interest rate on the senior secured credit facility is LIBOR plus 2.75% with a LIBOR floor of 1.00%. The previous interest rate was LIBOR plus 3.00% with a LIBOR floor of 1.00%. The new interest rate for the senior secured revolving credit facility is LIBOR plus 2.50% (previously LIBOR plus 3.0%). In addition, the Company has extended the maturity of its senior secured credit facility from November 2017 to February 2020. The Company also extended the term of its $100 million revolving credit facility through February 2018.

All other material provisions, including covenants under the existing Credit Agreement, comprised of the senior secured term loan facility and the senior secured revolving credit facility, remain unchanged.

As a result, the Company expects interest expense of $80.6 million in 2013.

"The strong credit market and high demand for Dunkin' Brands' term loan have enabled us to lower our weighted average cost of debt. As a result, we plan to reinvest $1.5 million in 2013 interest expense savings into the business, with the remaining $3.4 million in interest expense savings going to our bottom line," said Paul Carbone, Dunkin' Brands Chief Financial Officer. "As a result, we now expect earnings per share of $1.50 to $1.53 in 2013."

About Dunkin' Brands Group, Inc.With more than 17,400 points of distribution in nearly 60 countries worldwide, Dunkin' Brands Group, Inc. (Nasdaq: DNKN) is one of the world's leading franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of fiscal year 2012, Dunkin' Brands' nearly 100 percent franchised business model included more than 10,400 Dunkin' Donuts restaurants and nearly 7,000 Baskin-Robbins restaurants. For the full-year 2012, the company had franchisee-reported sales of approximately $8.8 billion. Dunkin' Brands Group, Inc. is headquartered in Canton, Mass.

SOURCE Dunkin' Brands Group, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,702.85 -55.06 -0.31%
S&P 500 2,073.47 -3.95 -0.19%
NASDAQ 4,995.5510 -17.5720 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs