Dine Brands Global Inc., the parent company of Applebee's, IHOP, and Fuzzy's Taco Shop, announced a $600 million debt offering through its subsidiaries. The company plans to issue the Series 2025-1 Class A-2, Fixed Rate Senior Secured Notes with an initial principal amount of $600 million. These notes will bear an interest rate of 6.720% per annum, payable quarterly, and have an expected term of five years. The proceeds from this offering will be used to repay the outstanding 2019-1 Refinancing Notes, cover transaction costs related to the refinancing, and for general corporate purposes. The closing of this transaction is anticipated on or around June 17, 2025, subject to various closing conditions.
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