DineEquity starts roadshow for $825 million eight-year notes

By Paul A. Harris

St. Louis, Sept. 29 - DineEquity Inc. began a roadshow on Wednesday in New York for its $825 million offering of eight-year senior unsecured notes (B3/CCC+), according to an informed source.

The roadshow continues in New York on Thursday and then moves to Boston on Friday.

On Monday the roadshow continues in Los Angeles and then moves to San Francisco on Tuesday before wrapping up on Wednesday in Minneapolis and in the Mid-Atlantic states.

Pricing is set for Oct. 7.

Barclays Capital Inc. and Goldman Sachs & Co. are the joint bookrunners for the offering, which is formatted according to Rule 144A and Regulation S with registration rights.

Proceeds will be used to refinance outstanding Applebee's and IHOP securitization debt and to redeem a portion of the series A stock.

DineEquity is the Glendale, Calif.-based owner of Applebee's Neighborhood Grill & Bar and IHOP Restaurants.

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