CHEESECAKE FACTORY INC (CAKE): debt financing — Cheesecake Factory prices $575M convertible notes; funds share buyback & debt refinancing

CHEESECAKE FACTORY INC

Issued $575M of 2.00% convertible senior notes due 2030; initial conversion price ~$70.73/share (30% premium over $54.41 close).
Net proceeds estimated at ~$485.6M (or ~$558.5M if greenshoe fully exercised).
Plans to use ~$130M to repurchase ~2.4M shares and ~$290M to repurchase $276M of 0.375% convertible notes due 2026.
Remaining proceeds for general corporate purposes, including revolver repayment.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CHEESECAKE FACTORY INC incurred convertible notes of $575,000,000 principal amount with U.S. Bank Trust Company, National Association at 2.00% per annum maturing March 15, 2030.

Instrument: convertible notes
Principal: $575,000,000 principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 2.00% per annum
Maturity: March 15, 2030
Event: incurrence

Exact text from the filing

On February 28, 2025, The Cheesecake Factory Incorporated (the “ Company ”) issued $575,000,000 principal amount of its 2.00% Convertible Senior Notes due 2030 (the “ Notes ”).

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CHEESECAKE FACTORY INC filing history →

Source: SEC EDGAR

accession 0001104659-25-019110

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