Darden issues $500M 6.300% Senior Notes due 2033; repays Term Loan from Ruth's Chris buy

DARDEN RESTAURANTS INC

Issued $500M aggregate principal of 6.300% Senior Notes due Oct 10, 2033; interest paid semi-annually.
Net proceeds plus cash used to repay $600M floating-rate Term Loan (due 2026) from Ruth's Hospitality acquisition.
Term Loan terminated and commitments canceled; affiliates of underwriters received >5% of net proceeds.
Notes are senior unsecured, rank equally with existing unsecured debt; used for general corporate purposes.

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