secwatch.observer — SEC 8-K summary
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Issuer:     Bloomin' Brands, Inc. (BLMN)
CIK:        0001546417
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001546417-23-000134
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bloomin' Brands enters $200M interest rate swaps to fix debt cost
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- Entered six interest rate swap agreements with aggregate notional of $200M on Dec 5, 2023.
- Swaps convert variable-rate debt to fixed: $100M at 4.92% through Dec 2024, $100M at 4.34% through Dec 2025.
- Post-swap, capital structure expected to be 70%-75% fixed-rate debt.
- Swaps include embedded floor of minus 0.10%, plus term SOFR adjustment and spread of 150-250 bps.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1546417/000154641723000134/0001546417-23-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1546417/000154641723000134/blmn-20231205.htm
  HTML page:      https://secwatch.observer/filing/0001546417-23-000134

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer