Affiliates of Domino’s Pizza Inc. completed recapitalization transaction issuing $1.575 billion 5.216% fixed rate notes and also entered into a revolving financing facility of up to $100 million. The notes were issued in a securitization transaction of substantially all of the company’s revenue-generating assets.
A portion of the net proceeds will be used to repay $ 1.447 billion in debt and the rest for general business purposes, which may include distributions to holders of common stock, other equivalent payments and stock repurchases.
Barclays Capital Inc. arranged the securitization.
Standard & Poor’s rated the offering ‘BBB+.
S&P said the transaction’s strengths included… read on.