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UPDATE 1-IHOP to delay refinancing due to trademark issue
February 9, 2007 / 11:04 PM / in 11 years

UPDATE 1-IHOP to delay refinancing due to trademark issue

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LOS ANGELES, Feb 9 (Reuters) - IHOP Corp. IHP.N said on Friday it would delay completion of its corporate refinancing while it resolves issues related to the lapsing of some of its federal trademark and service mark registrations.

In a statement, the pancake restaurant chain said it is in the process of obtaining new registrations for the affected trademarks and service marks. It has not yet determined the financial impact of these measures, but said they would not have a material impact on its business or franchisees.

Because of the lapse, the company must revise its Uniform Franchise Offering Circular (UFOC), a format franchisors use to provide information to prospective franchisees.

Only certain franchise agreements were affected by the trademark registration issues, IHOP said, adding that it had temporarily stopped offering franchises pending the revisions to the UFOC.

It anticipates being able to resume offering franchises in most states “very shortly.”

IHOP’s planned refinancing calls for the Glendale, California, company to issue up to $200 million of notes. Procees will be used to pay down debt and buy back shares.

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