DineEquity Inc., the parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, said it plans to offer senior unsecured notes to pay for outstanding securitization notes.
The company said in a release that it intends to use the net proceeds from the offering, to fund the previously announced tender offers and consent solicitation for certain series of its subsidiaries' outstanding securitization notes, to satisfy and discharge the indentures governing such securitization notes and to redeem, prepay or purchase any of such securitization notes that are not tendered.
Barclays Capital and Goldman, Sachs & Co. are acting as the joint dealer managers on the transaction.
