Although not unexpected, Dunkin’ Brands announced last week that it was refinancing and replacing $1.8B in debt with $2.4B in new debt which will be securitized at a bit lower interest rate. The new debt excess, around $600M, will be used for reserve accounts and future share buybacks. Also last week, DBI reported in a press release that the company had 422 new store openings between Dunkin’ Donuts and Baskin Robbins with Dunkin’ accounting for 405 of the total and Baskin the remaining 17. Another 500 stores were remodeled over the past 12 months. In the same release, DBI established a 2015 target of between 410 and 440 new stores domestically. Lastly, there were some notable comments from CEO and Chairman Nigel Travis this week regarding disappointing K-cup sales when he commented on “double-digit negatives” last quarter in Dunkin’ K-cups. He also reported in the conference that sales of Dunkin’ bagged coffee was also disappointing.