DineEquity to seek bank loan, bonds for debt refinancing via Barclays

By Paul A. Harris

St. Louis, Sept. 10 - DineEquity, Inc., the parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, will come to the debt capital markets with new bank loans and senior unsecured notes in order to refinance debt, according to a source familiar with the matter.

Barclays Capital Inc. will lead both the bank and bond deals.

The sizes have not yet been disclosed, the source said, adding that the combined amount of bank and bond issuance will be similar to the amounts involved in a $1.385 billion tender offer for four series of notes, which the Glendale, Calif.-based company launched on Friday.

Timing also remains to be determined, the source said, adding that the contemplated timeframe for the bonds is late September or early October.

The bonds will come in a Rule 144A offering.

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