Sapna Maheshwari and Emre Peker report at Bloomberg Businessweek that Dunkin’ Brands Inc., owner of Dunkin’ Donuts and Baskin-Robbins restaurants, is taking advantage of a rally in high-yield debt to raise about $2 billion for a payout to its private-equity shareholders.
Dunkin’ Brands, the parent company of two of the world’s most recognized brands, Dunkin’ Donuts and Baskin-Robbins, today announced that Dunkin’ Finance Corp., a corporate finance entity, proposes to raise approximately $625 million through an offering of senior notes. The proceeds from the notes offering would be used, together with borrowings under a new approximately $1.35 billion senior credit facility and available cash, to repay in full the outstanding securitization debt of Dunkin’ Brands’ securitization subsidiaries and to pay a cash dividend to Dunkin’ Brands’ stockholders. Following repayment of the securitization debt, the notes would be assumed by Dunkin’ Brands.
DDIFO’s first National Members Meeting on September 21 at the Mohegan Sun was chock-full of valuable information for franchise owners, but perhaps the most compelling presentation — The Franchisor In Play: Your Role as a Stakeholder, Not a Spectator — came from attorney Eric Karp. Karp’s message about the role franchise owners need to take in advance of and during a sale of the franchisor resonated strongly with the franchisees in attendance. DDIFO Members Only.
Kent Hoover reports at Portfolio.com that as President Obama he signed a hard-fought small-business lending measure into law, he said it is the “most significant step” to help small firms in more than a decade. President Barack Obama signed the Small Business Jobs Act into law, calling it “the most significant step on behalf of our small businesses in more than a decade.”
David KLightman writes in McClatchy Newspapers that Lonny and Robin Kocina started their business in the laundry room of their house more than 20 years ago, and they now employ about 45 people. However, they worry that Washington lawmakers are about to stifle their effort to keep their business growing. House Minority Leader John Boehner said Sunday he is willing to back tax cuts only for the middle class if that’s the only option he’s got – though he emphasized it would be “bad policy,” and that he wants Bush-era cuts extended for everyone.
After a decade of working with Dunkin’ Donuts and Baskin-Robbins franchise owners, Direct Capital Franchise Group (Direct Capital) is enhancing and expanding its services in ways that aim to ease your access to financing and better meet your needs. Its staff members have the direct experience and knowledge to guide and support you every step of the way, and now, as a DDIFO Sponsor, the firm is even more invested in its relationship with Dunkin’ Donuts franchisees.
Jay Heflin reports at The Hill that Senate Small Business Chairwoman Mary Landrieu (D-La.) on Wednesday said her chamber will pass legislation by the end of the week that creates a $30 billion lending pool for small businesses and provides approximately $12 billion in tax relief for these organizations. Take Action contact your elected officials
A Montclair, NJ woman surrendered to the FBI yesterday on charges of running a $45 million real estate investment Ponzi scheme, the U.S. Attorney’s office in Manhattan announced. Authorities said Hodgson allegedly spent hundreds of thousands of dollars at casinos in Atlantic City and Las Vegas, and spent more than $700,000 on a Dunkin Donuts franchise in Arizona, according to court papers.
Kermit Pattison writes in the New York Times that Mr. Tessier had owned a liquor store for nearly a decade. He had a good credit score and a solid track record as a businessman in central Georgia. He assumed lenders would be happy to help. “I went to several banks and they acted like they could do loans,” Mr. Tessier said. “But when it came down to it, it was ridiculous. Ultimately, the terms and conditions were just outrageous.”
Jody Shenn of BusinessWeek reports that Ambac Financial Group Inc.’s regulator won support from Dunkin Brands Inc., Sonic Corp. and Hertz Corp. as he seeks to overcome objections from some of the insurer’s clients to his plan to rehabilitate the second-largest bond guarantor