Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Bloomin' Brands Inc. : Bloomin' Brands Announces Proposed Refinancing of Senior Secured Credit Facilities

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/09/2012 | 10:27pm CEST

TAMPA, Fla., Oct. 9, 2012 (GLOBE NEWSWIRE) -- Bloomin' Brands, Inc. (Nasdaq:BLMN) announced today that its wholly-owned subsidiary, OSI Restaurant Partners, LLC, has initiated a process to refinance its 2007 senior secured credit facilities ("2007 Facilities"). The 2007 Facilities provide financing of up to $1.6 billion, consisting of a senior secured term loan facility, which matures in June 2014, and a working capital revolving credit facility and a pre-funded revolving credit facility, both of which mature in June 2013. The new facilities are expected to consist of a $1.0 billion Term Loan B and a $225 million working capital revolving credit facility maturing seven and five years after the closing date of the new facilities, respectively. The new facilities are subject to negotiation, execution and delivery of definitive loan documentation and various customary closing conditions. Bloomin' Brands, Inc. expects the term loan to be fully drawn, and the working capital revolving credit facility to be partially drawn, at closing.

Deutsche Bank Securities and Bank of America Merrill Lynch are acting as Joint Lead Arrangers and Joint Bookrunners, while Goldman Sachs, JP Morgan, and Morgan Stanley will serve as additional Joint Bookrunners.

About Bloomin' Brands, Inc.

Bloomin' Brands, Inc. is a portfolio of restaurants brands comprised of Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar and Roy's with more than 1,400 restaurants in 48 states and 20 countries and territories internationally.

Forward-Looking Statements

Certain statements contained herein are not based on historical fact and are "forward-looking statements" within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as "believes," "estimates," "anticipates," "expects," "feels," "forecasts," "seeks," "projects," "intends," "plans," "may," "will," "should," "could," "would" and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the Company's forward-looking statements. These risks and uncertainties include, but are not limited to: the future cost and availability of credit; interest rate changes, compliance with debt covenants and the Company's ability to make debt payment; the availability of credit presently arranged from the Company's revolving credit facilities; local, regional, national and international economic conditions; consumer confidence and spending patterns; the price and availability of commodities, such as beef, chicken, shrimp, pork, seafood, dairy, potatoes, onions and energy supplies, which are subject to fluctuation and could increase or decrease more than the Company expects; inflation or deflation; increases in unemployment rates and taxes; increases in labor and health insurance costs; changes in consumer tastes and the level of acceptance of the Company's restaurant concepts (including consumer acceptance of prices); consumer reaction to public health issues; consumer perception of food safety; the seasonality of the Company's business; weather, acts of God and other disasters; demographic trends; the cost of advertising and media; and government actions and policies. Further information on potential factors that could affect the financial results of the Company and its forward-looking statements is included in its Prospectus filed with the Securities and Exchange Commission on August 8, 2012. The Company assumes no obligation to update any forward-looking statement, except as may be required by law.

CONTACT: Bloomin' Brands, Inc.

         Investor Relations

         Mark W. Seymour, Jr.

         (813) 282-1225

         Investor@bloominbrands.com
Source: Bloomin' Brands, Inc.

News Provided by Acquire Media

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
08:48p BOEING : Federal Contracts Awarded to Companies in Arizona (July 30)
08:48p BAE SYSTEMS : Federal Contracts Awarded by Federal Agencies in Florida (July 30)
08:48p UNITED TECHNOLOGIES : Federal Contracts Awarded to Companies in Connecticut (July 30)
08:48p LOCKHEED MARTIN : Federal Contracts Awarded to Companies in Georgia (July 30)
08:48p Federal Contracts Awarded by Federal Agencies in Georgia (July 30)
08:48p ROCKWELL COLLINS : Federal Contracts Awarded to Companies in Iowa (July 30)
08:48p RAYTHEON : Federal Contracts Awarded to Companies in Indiana (July 30)
08:48p SCIENCE APPLICATIONS : Federal Contracts Awarded to Companies in New Jersey (July 30)
08:48p RAYTHEON : Federal Contracts Awarded by Federal Agencies in New Jersey (July 30)
08:48p BAE SYSTEMS : Federal Contracts Awarded by Federal Agencies in Utah (July 30)
Latest news
Advertisement
Hot News 
-9.07%Pearson Trades in Line; Books Earnings Loss
2.08%SABMILLER : China Approves AB InBev Deal for SABMiller -- Update
6.22%NEWELL BRANDS : Earnings Top Views
3.33%Alphabet posts strong revenue on video market, stock surges
-4.00%CASINO GUICHARD : Groupe Casino Profit Leaps on Asset Sales
Most Read News
07/29 CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : IMF raises China’s economic outlook
07/29 No clean bill of health for EU banks in stress test
07/29 ROYAL DUTCH SHELL A : Shell Profits Slump 93%; Lake Charles LNG Project Shelved
Most recommended articles
02:47p E D F : May worried by China investment, intervened to delay Hinkley
02:17pDJMARKET SNAPSHOT : This Aging Bull Market Can Grind Out More All-time Highs
06:15a GOLDMAN SACHS : Singapore central bank says examining Goldman on work related to 1MDB bond deals
05:45aDJRio Tinto Has Bounced Back on Stronger Prices for Minerals
05:06a DP WORLD : Dubai's DP World signs lease agreement with Canada's Rodney Container Terminal