Dunkin’ last recapitalized in January 2015, when the company issued a $2.6 billion securitized financing facility consisting of two tranches of fixed rate notes in the principal amounts of $750 million (A-2-I Notes) and $1.75 billion A-2-II Notes), respectively, and $100 million of variable funding notes.
Dunkin’ said its subsidiaries plan to issue approximately $1.45 billion of new securitized notes. Proceeds from the notes will be used to prepay and retire the outstanding 2015 A-2-I notes, to pay transaction fees and for general corporate purposes, which may include a return of capital to shareholders, Dunkin’ said.
Additionally, Dunkin’ said its subsidiaries are expected to issue a portion of the 2017 notes in the form of a new $150 million variable funding note facility, which will replace the 2015 variable funding notes facility.
In his new role, Weisman will lead marketing, product innovation, field marketing, consumer insights and advertising as well as the brand’s digital and consumer packaged goods initiatives.
“Tony is a highly experienced, much-admired business leader with a proven track record of building global brands,” said David Hoffmann, president of Dunkin’ Donuts US. “Very importantly, he also has a deep understanding of working with franchised organizations, including Dunkin’ Donuts, having led the work on our account at Digitas for the past six years. With his transformative, data-driven approach to marketing, extensive digital acumen and ability to build and inspire teams, we’re confident that he is the right leader to take our brand to the next level.”