Loan & DebtSep 29, 2026, 08:06 AM
Bloomin' Brands Extends $1.2B Credit Facility to 2031
AI Summary
Bloomin' Brands, Inc. announced the amendment and restatement of its credit agreement, extending the maturity date of its $1.2 billion revolving credit facility to September 25, 2031. The transaction, which is leverage neutral, maintains existing commitment amounts and interest rate structures while introducing a new senior secured net leverage ratio covenant. The company stated this refinancing enhances financial flexibility and strengthens its capital structure.
Key Highlights
- Bloomin' Brands extended its revolving credit facility maturity date to September 25, 2031.
- The $1.2 billion facility's commitment amount and interest rate elections remained substantially unchanged.
- A new financial covenant requires Consolidated Senior Secured Net Leverage Ratio not to exceed 3.50 to 1.00.
- The existing Total Net Leverage Ratio covenant remains at 4.50 to 1.00, with temporary increases allowed for acquisitions.
- The refinancing is leverage neutral and strengthens the company's capital structure.
Price Impact
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