DALLAS, Sept. 20, 2016 /PRNewswire/
-- Brinker International, Inc. (NYSE: EAT) (the
"Company") today announced that it has priced its previously
announced notes offering and has agreed to issue and sell
$350 million aggregate principal
amount of 5.000% Senior Notes due 2024 (the "Notes"). The Notes
will be sold to investors at 100% of the principal amount.
The Notes will be guaranteed on a senior unsecured basis by each
of the Company's subsidiaries that guarantees its amended revolving
credit facility. Net proceeds from the offering of the Notes will
be used to repurchase up to $300
million of the Company's common stock and repay up to
$50 million of outstanding
indebtedness under the Company's revolving credit facility. The
closing of the Notes offering is scheduled to occur on Sept. 23, 2016, subject to customary closing
conditions.
The Notes have not and will not be registered under the
Securities Act or any state securities laws, and may not be offered
or sold in the United States or to
U.S. persons absent registration or an applicable exemption from
such registration requirements. Accordingly, the Notes will be
offered and sold only to persons reasonably believed to be
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act") and to
non-U.S. persons in offshore transactions outside the United States in accordance with
Regulation S under the Securities Act. This release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of the Notes in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
About Brinker
Brinker International, Inc. is one of
the world's leading casual dining restaurant companies. Founded in
1975 and based in Dallas, Texas,
as of June 29, 2016, Brinker owned,
operated, or franchised 1,660 restaurants under the names
Chili's® Grill & Bar (1,609 restaurants) and
Maggiano's Little Italy® (51 restaurants).
Forward-Looking Statements
The statements contained in
this release that are not historical facts are forward-looking
statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are based on our current plans and
expectations and involve risks and uncertainties which are, in many
instances, beyond our control. Such risks and uncertainties
include, among other things, prevailing market conditions, risks
related to whether the Company will consummate the offering of the
Notes on the expected terms, or at all, and the fact that Company's
management may have broad discretion in the use of the proceeds
from any sale of the Notes. Other risks and uncertainties relating
to the Company's business are general business and economic
conditions, financial and credit market conditions, credit
availability, reduced disposable income, the impact of competition,
the impact of mergers, acquisitions, divestitures and other
strategic transactions, franchisee success, the seasonality of the
company's business, increased minimum wages, increased health care
costs, adverse weather conditions, future commodity prices, product
availability, fuel and utility costs and availability, terrorist
acts, consumer perception of food safety, changes in consumer
taste, health epidemics or pandemics, changes in demographic
trends, availability of employees, unfavorable publicity, the
company's ability to meet its business strategy plan, acts of God,
governmental regulations, inflation, technology failures, and
failure to protect the security of data of our guests and
teammates, as well as the risks described under the caption "Risk
Factors" in our Annual Report on Form 10-K and future filings with
the Securities and Exchange Commission.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/brinker-international-announces-pricing-of-notes-offering-300331362.html
SOURCE Brinker International, Inc.