RLPC: Dunkin' Brands to tap with $1.953B loan

NEW YORK Wed Jan 30, 2013 1:18pm EST

NEW YORK Jan 30 (Reuters) - Dunkin' Brands Group Inc , known for its Dunkin' Donuts doughnuts and coffee and Baskin Robbins ice cream brands, is tapping the market for a $1.953 billion senior secured credit, sources told Thomson Reuters LPC. The new loan will refinance existing debt.

The company will launch the new loan via a lender call at 2 p.m. tomorrow. Barclays leads the deal.

The new credit will comprise a $100 million revolver maturing November 23, 2015, and an approximate $1.853 billion term loan maturing November 23, 2017. Existing corporate family ratings are B2/B+, while senior secured facility ratings are B2/B+.

Dunkin Brands' existing senior secured credit consists of an approximately $1.9 billion term loan facility due November 2017, and a $100 million revolving credit expiring November 2015.

The company's existing term loan is priced at a spread of LIB+300, with a 1 percent Libor floor.

Dunkin' Brands Group, Inc. is a global franchisor of quick service restaurants serving hot and cold coffee and baked goods, as well as hard-serve ice cream.