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.

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