Key Developments: Bloomin' Brands Inc (BLMN.O)
25.30USD
18 Jun 2013
$0.57 (+2.30%)
$24.73
$24.88
$25.32
$24.55
1,022,663
761,444
$25.32
$11.57
Latest Key Developments (Source: Significant Developments)
Bloomin' Brands Inc Announces Pricing Of Secondary Public Offering Of Common Stock
Bloomin' Brands Inc announced that the pricing of a secondary public offering of 19,000,000 shares of the Company's common stock at a price of $21.50 per share. All of the shares are being offered by certain stockholders of the Company. The offering is expected to close on May 29, 2013, subject to the satisfaction of customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 2,850,000 shares of common stock from certain selling stockholders. The offering is being made through an underwriting group led by BofA Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., and Goldman, Sachs & Co. who are acting as joint book-running managers. Jefferies LLC is acting as co-lead manager of the offering. William Blair & Company, L.L.C., Raymond James & Associates, Inc, Wells Fargo Securities, LLC, and The Williams Capital Group, L.P. are acting as co-managers of the offering. Full Article
Bloomin' Brands Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Bloomin' Brands Inc announced that for fiscal 2013, it expects total revenues to be approximately $4.2 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $4.2 billion for fiscal 2013. Full Article
Bloomin' Brands Inc Raises FY 2013 Earnings Guidance; Reaffirms FY 2013 Comparable Restaurant Sales Growth Guidance
Bloomin' Brands Inc announced that it is updating the following expectations for fiscal 2013: Comparable restaurant sales growth of at least 2.0% with positive traffic; Adjusted net income attributable to Bloomin' Brands, Inc. from at least $136.0 million to at least $141.0 million and GAAP net income attributable to Bloomin' Brands, Inc. from at least $136.0 million to at least $165.0 million; Based on the revised expectations for Adjusted and GAAP net income attributable to Bloomin' Brands, Inc., Adjusted diluted earnings per share (EPS) from at least $1.06 to at least $1.10 and GAAP diluted earnings per share from at least $1.06 to at least $1.28; Incorporated in the increase in full-year Adjusted diluted earnings per share guidance of at least $1.10 is a second quarter estimate for Adjusted diluted earnings per share of at least $0.21. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $139.1 million and EPS of $1.11 for fiscal 2013. Full Article
Bloomin' Brands Inc Announces Proposed Repricing Of Existing $1.0 Billion Senior Secured Term Loan B
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. Full Article
Bloomin' Brands Inc Reaffirms FY 2013 Revenue Guidance; Comments On FY 2013 Comparable Restaurant Sales Guidance; Issues FY 2013 EPS Guidance; Net Income Guidance Above Estiamtes-Conference Call
Bloomin' Brands Inc announced that for fiscal 2013, it expects Comparable restaurant sales growth of at least 2% with positive traffic, total revenues of approximately $4.2 billion, adjusted and GAAP net income of at least $136 million, adjusted and GAAP diluted earnings per share (EPS) of at least $1.06. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.2 billion, net income of $132 million and EPS of $1.06 for fiscal 2013. Full Article
Bloomin' Brands Inc Raises FY 2012 Guidance; Raises FY 2012 Comparable Restaurant Sales Guidance; Issues FY 2013 Revenue Guidance; Issues FY 2013 Comparable Restaurant Sales Guidance
Bloomin' Brands Inc announced that for fiscal 2012, it expects comparable restaurant sales growth of at least 3%, total revenues of approximately $4 billion, adjusted income from operations of at least $229 million, and Income from operations of at least $175 million, adjusted diluted earnings per share (EPS) of at least $0.91. For fiscal 2013, it expects Comparable restaurant sales growth of at least 3%, total revenues of approximately $4.2 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $3,98 billion, net income of $104 million and EPS of $0.94 for fiscal 2012; revenue of $4.22 billion for fiscal 2013. Full Article
Bloomin' Brands Inc Announces Exercise Of Underwriters' Option To Purchase Additional Shares
Bloomin' Brands Inc announced that the underwriters in its initial public offering have exercised their option to purchase additional shares from Bloomin' Brands and certain of the selling stockholders. The underwriters will purchase 1,196,845 shares from Bloomin' Brands and 1,196,845 shares from certain of the selling stockholders at the initial public offering price of $11.00 per share, less the underwriting discount. The sale of these additional shares is expected to close on September 11, 2012, subject to customary closing conditions. The initial public offering was made through an underwriting group led by BofA Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Goldman, Sachs & Co., who acted as joint book-running managers. Jefferies & Company, Inc. acted as co-lead manager of the offering. William Blair & Company, L.L.C., Raymond James & Associates, Inc., Wells Fargo Securities, and The Williams Capital Group, L.P. acted as co-managers of the offering. Full Article
Bloomin' Brands Inc Issues FY 2012 Guidance; Issues FY 2012 Comparable Sales Guidance
Bloomin' Brands Inc announced that for fiscal 2012, it expects comparable restaurant sales growth of at least 3%, total revenues of approximately $4 billion, adjusted income from operations of at least $229 million, and Income from operations of at least $175 million, adjusted diluted earnings per share (EPS) of at least $0.91. Full Article
Bloomin' Brands Inc Completes Initial Public Offering
Bloomin' Brands Inc announced that it has completed its initial public offering of 16,000,000 shares of its common stock at $11.00 per share, which included 13,000,000 shares sold by Bloomin' Brands and 3,000,000 shares sold by certain selling stockholders. The shares began trading on the Nasdaq Global Select Market on August 8, 2012 under the symbol "BLMN." The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 shares from Bloomin' Brands and up to 1,200,000 from certain of the selling stockholders. The offering was made through an underwriting group led by BofA Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Goldman, Sachs & Co., who acted as joint book-running managers. Jefferies & Company, Inc. acted as co-lead manager of the offering. William Blair & Company, L.L.C., Raymond James & Associates, Inc., Wells Fargo Securities, and The Williams Capital Group, L.P. acted as co-managers of the offering. Full Article
Bloomin' Brands Inc Announces Pricing Of Initial Public Offering
Bloomin' Brands Inc announced that it has priced an initial public offering of 16,000,000 shares of common stock at $11.00 per share. Bloomin' Brands will offer 13,000,000 shares and certain selling stockholders will offer 3,000,000 shares. Bloomin' Brands will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market on August 8, 2012 under the symbol BLMN. The underwriters have been granted a 30-day option to purchase up to an additional 2,400,000 shares from Bloomin' Brands and certain of the selling stockholders. If this option is exercised in full, Bloomin' Brands will issue and sell 1,200,000 shares and certain of the selling stockholders will sell 1,200,000 shares. The offering is being made through an underwriting group led by BofA Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., and Goldman, Sachs & Co. who are acting as joint book-running managers. Jefferies & Company, Inc. is acting as co-lead manager of the offering. William Blair & Company, L.L.C., Raymond James & Associates, Inc., Wells Fargo Securities, and The Williams Capital Group, L.P. are acting as co-managers of the offering. Full Article
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