| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for OSI Restaurant Partners LLC > News item |
Bloomin’ Brands expects to price $300 million senior notes on Wednesday, whisper 5¾% to 6%
By Paul A. Harris
Portland, Ore., April 6 – Bloomin' Brands, Inc. expects to price a $300 million offering of eight-year senior notes on Wednesday, according to market sources.
The deal is in the market with 5¾% to 6% initial guidance, according to a bond trader.
J.P. Morgan Securities LLC is leading the sale.
The notes come with three years of call protection.
The issuing entity will be OSI Restaurant Partners, LLC, a wholly owned subsidiary of Bloomin' Brands.
The Tampa, Fla.-based casual dining restaurant company plans to use the proceeds to pay down its existing senior secured credit facilities.
Concurrent with the notes offer the company intends to refinance its existing senior secured credit facilities by entering into new senior secured credit facilities, the size, tenor, terms and pricing of which remain to be determined, according to a company press release.
Bloomin' Brands' portfolio includes Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.