Dine Brands prices $600M 6.720% securitized notes to refinance existing debt

Dine Brands Global, Inc.

Co-Issuers issue $600M Series 2025-1 Class A-2 Notes at 6.720% fixed rate, expected 5-year term.
Net proceeds to repay ~$594M outstanding Series 2019-1 Refinancing Notes and replace Series 2022-1 Variable Funding Notes.
Closing expected June 17, 2025 subject to conditions; notes sold in private placement to QIBs and offshore.
Notes secured by substantially all Applebee's & IHOP domestic franchising, rental and financing assets.

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