Domino's Pizza, Inc. DPZ today announced that
certain of its subsidiaries intend to refinance their outstanding
securitization debt. In April 2007, certain Domino's subsidiaries entered
into a $1.85 billion securitized financing facility consisting of $1.7
billion of fixed rate notes and $150 million of variable funding notes. As
of June 19, 2011, the outstanding securitized debt balance was $1.45
billion. Domino's intends to replace this with a new securitized financing
facility, expected to consist of $1.525 billion of fixed rate notes and $100
million of variable funding notes. The new fixed rate notes are expected to
require repayment near the 7th anniversary of the closing date and the new
variable funding notes are expected to require repayment on or before the
5th anniversary of the closing date, with an option for up to two one-year
renewals subject to certain conditions.
The net proceeds of the new facility will be used to repay the 2007 notes in
full and for general corporate purposes. The consummation of the notes
offering is subject to market and other conditions and is anticipated to
close in the third quarter of 2011.
This press release does not constitute an offer to sell or the solicitation
of an offer to buy the notes or any other security. The notes to be offered
have not been, and will not be, registered under the Securities Act of 1933
and may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements of the Securities
Act of 1933.
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