Dine Brands Global, Inc. (DIN): debt financing — Dine Brands closes $600M securitization refinancing at 6.720%, repays $594M of existing notes

Dine Brands Global, Inc.

Issued $600M Series 2025-1 Class A-2 Fixed Rate Senior Secured Notes, coupon 6.720%, expected five-year term to June 2030.
New $325M variable funding notes (VFN) replace prior $325M revolver; $100M drawn and $1M in LCs as of March 31.
Net proceeds used to repay ~$594M outstanding on Series 2019-1 Class A-2-II notes plus transaction costs and general corporate purposes.
Quarterly principal payments may be suspended when corporate leverage ratio ≤ 5.25x; additional interest triggers after anticipated repayment date.
Existing Series 2019-1 and 2022-1 supplements and purchase agreements terminated upon refinancing.

item 1.01 item 1.02 item 2.03 item 7.01 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

Dine Brands Global, Inc. incurred revolving credit of up to $325 million at Term SOFR Rate plus 2.50% or base rate plus 2.00% maturing June 2030 (anticipated repayment), subject to extensions.

Instrument: revolving credit
Principal: up to $325 million
Rate: Term SOFR Rate plus 2.50% or base rate plus 2.00%
Maturity: June 2030 (anticipated repayment), subject to extensions
Event: incurrence

Exact text from the filing

entered into a revolving financing facility, the Class A-1 Notes, that allows for drawings up to $325 million of variable funding notes and the issuance of letters of credit.

View on SEC.gov

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

Dine Brands Global, Inc. incurred senior notes of $600 million at 6.720% maturing June 2055 (legal final), anticipated June 2030.

Instrument: senior notes
Principal: $600 million
Rate: 6.720%
Maturity: June 2055 (legal final), anticipated June 2030
Event: incurrence

Exact text from the filing

issued the Series 2025-1 6.720% Fixed Rate Senior Secured Notes, Class A-2 (the “Class A-2 Notes”) in an initial aggregate principal amount of $600 million.

View on SEC.gov

Browse all debt financings →

Dine Brands Global, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-142147

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.