Dine Brands Global Inc Stock Price, News & Analysis

Dine Brands Global, Inc. (NYSE: DIN) has completed a partial refinancing of its Series 2019-1 Class A-2-I Fixed Rate Senior Secured Notes through its special purpose subsidiaries. The financing totals $500 million in new notes, bearing a fixed interest rate of 7.824% annually, with a duration of six years and two months. This refinancing is a strategic move aimed at maximizing shareholder value and supports future debt refinancing. The new notes were sold to qualified institutional buyers in the U.S. and abroad, and the proceeds will be allocated towards settling existing debts and corporate expenses. As of April 17, 2023, approximately $585 million remains under the previous notes, and this refinancing underscores the company’s commitment to maintaining strong financial health in a challenging market.

Dine Brands Global, Inc. (NYSE: DIN) is set to announce its Q1 2023 financial results on May 3, 2023, before the market opens. A conference call will follow at 9:00 a.m. Eastern Time to discuss the financial outlook. This meeting can be accessed via the Investor Relations section of the company’s website. As of December 31, 2022, Dine Brands operates over 3,500 restaurants internationally across its brands, including Applebee's and IHOP, supported by 387 franchisees. The company is making strides in the Fast Casual segment, bolstering its position as a leading full-service restaurant entity.

Dine Brands Global appointed Sarah Cannon-Foster as the new Chief People Officer, effective April 17, 2023. Cannon-Foster brings over 30 years of experience in human resources, previously serving at Walgreens Boots Alliance and Starwood Hotels & Resorts. Her role will focus on unlocking Dine Brands' talent potential, understanding brand dynamics, and enhancing collaboration across teams. Dine Brands, the parent company of Applebee's and IHOP, operates over 3,400 restaurants worldwide. Cannon-Foster's leadership is anticipated to contribute significantly to the company’s growth strategy.

Applebee's has reintroduced its popular Burgers and Boneless Wings deal, allowing guests to add 5 Boneless Wings for $1 to any Handcrafted Burger. The promotion features burgers like the Bourbon Street Mushroom Swiss and Neighborhood Double Burger, and is available for dine-in, To Go, and delivery. Applebee’s Handcrafted Burgers are made from 100% fresh ingredients. The promotion is valid for a limited time and applies only to full-priced burgers, not in conjunction with other offers. Applebee’s operates 1,678 restaurants in the U.S. and 11 countries, franchised by Dine Brands Global (NYSE: DIN).

Dine Brands Global, Inc. (NYSE: DIN) has announced a purchase agreement for the issuance of $500 million in Series 2023-1 Class A-2 Fixed Rate Senior Secured Notes with a 7.824% interest rate, maturing in June 2029. These notes will be secured by cash flows from franchise and rental assets of Applebee’s and IHOP. Proceeds will refinance existing Series 2019-1 notes and cover issuance costs. As of March 29, 2023, $585 million remains outstanding under the 2019-1 notes. The transaction is expected to close around April 17, 2023, pending certain conditions.

IHOP has launched its largest menu evolution to date, introducing a range of new items, including Eggs Benedicts, Crepes, and Ultimate Steakburgers featuring a Four-Cheese Crisp. This menu refresh aims to meet customer demands for quality ingredients, variety, and value. Highlights include new flavor options such as Sweet & Savory Crepes and returning favorites like Cinn-A-Stack Pancakes. The new offerings will be available starting April 3 and will be supported by a comprehensive marketing campaign. For rewards members, there is a special promotion for Eggs Benedicts from April 14-23.

Dine Brands Global, Inc. (NYSE: DIN) announced plans to refinance its Series 2019-1 Class A-2-I Fixed Rate Senior Secured Notes, with a current principal balance of approximately $585 million. The company intends to introduce a new securitized financing facility, expecting to raise between $400 million and $500 million through Senior Term Notes. The proceeds will be utilized to repay the current notes in full, cover issuance expenses, and for general corporate purposes. The refinancing is subject to market conditions and there are no guarantees regarding timing or completion.