Exhibit 99.1
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News Release
Investor Contact
Ken Diptee
Executive Director, Investor Relations
Dine Brands Global, Inc.
818-637-3632
Media Contact
Thien Ho
Executive Director, Communications
Dine Brands Global, Inc.
818-549-4238
Dine Brands Global, Inc. Announces Signed Commitments to
Significantly Increase and Replace Existing Variable Funding Senior Notes
GLENDALE, Calif., August 17, 2018– Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee’s Neighborhood Grill & Bar®and IHOP® restaurants, today announced it has signed commitments with Barclays Bank PLC and Credit Suisse AG, Cayman Islands Branch to upsize and replace its existing Series2014-1,Class A-1 Variable Funding Senior Notes (the“Class A-1 Notes”) with a new series of Class A-1 Variable Funding Senior Notes (the “New Notes”). The New Notes allow for drawings of up to $225 million and have more favorable fees and interest rates. The currentClass A-1 Notes allow for drawings of up to $100 million.
The Company has determined not to pursue a refinancing of its existing Series2014-1 4.277% Fixed Rate Senior Secured Notes (the“Class A-2 Notes”) at this time. TheClass A-2 Notes have a maturity date of September 2021.
The closing of the New Notes transaction is subject to certain conditions and is anticipated to take place in the third quarter of 2018. There can be no assurance regarding the timing of the closing of the New Notes transaction or that the transaction will be completed on the terms described or at all.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee’s Neighborhood Grill & Bar and IHOP brands. With approximately 3,700 restaurants combined in 18 countries and approximately 380 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.