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Prospect News home > News index > List of issuers B > Headlines for Brinker International, Inc. > News item |
Brinker pricing crossover notes in five-, 10-year tranches Wednesday
By Andrea Heisinger
New York, May 8 - Brinker International, Inc. is set to price a crossover trade of senior notes (Ba2/BBB-/BBB-) in two tranches during Wednesday's session, according to a filing with the Securities and Exchange Commission.
The securities feature a change-of-control put at 101%.
BofA Merrill Lynch and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used to redeem outstanding notes due 2014, to repay a portion of the outstanding balance of a revolving credit facility and for general corporate purposes, including the possible purchase of common stock.
The owner and operator of restaurant franchises Chili's Bar & Grill and Maggiano's Little Italy is based in Dallas.
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