Bloomin' Brands Inc Announces Proposed Repricing Of Existing $1.0 Billion Senior Secured Term Loan B


Thursday, 28 Mar 2013 04:01pm EDT 

Bloomin' Brands Inc announced that its wholly-owned subsidiary, OSI Restaurant Partners, LLC (OSI), intends to seek a repricing of its existing $1.0 billion senior secured term loan B credit facility (the Term Loan B), maturing in 2019, to benefit from lower interest rates currently available in the senior secured debt markets. In connection with the proposed repricing, the Term Loan B would be replaced with a $975.0 million senior secured term loan B credit facility, which takes into account voluntary principal prepayments of $25.0 million made during the first quarter of 2013 on the existing Term Loan B. OSI anticipates the proposed repricing process will be completed within the next two weeks. However, there can be no assurance that OSI will be able to effect the repricing. Deutsche Bank Securities Inc and Merrill Lynch, Pierce, Fenner & Smith Incorporated will act as Joint Lead Arrangers, and each of Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman Sachs Bank USA, J.P. Morgan Securities LLC, and Morgan Stanley Senior Funding, Inc., will act as Joint Lead Bookrunners. 

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21 Nov 2014