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Actionable news in DPZ: DOMINO'S PIZZA Inc,

Domino's Pizza: Communications, Investor Relations And Legislative Affairs

The following excerpt is from the company's SEC filing.

(734) 930-3008

Dominos Pizza Announces Accelerated Share Repurchase Program upon

Completion of Recapitalization

ANN ARBOR, Michigan, October 27, 2015: Dominos Pizza, Inc. (NYSE: DPZ),

the recognized world leader in pizza delivery, announced that it had completed a recapitalization transaction on October 21, 2015 and intends to use the majority of the available excess proceeds for an accelerated share repurchase (ASR) program.

The Company announced an $800 million share repurchase authorization, which replaces its previous $200 million open market share repurchase program. As part of the new authorization, the Company will conduct a $600 million ASR.

J. Patrick Doyle, Dominos President and Chief Executive Officer

, said: Our business is flourishing. Were proud of the ongoing returns this is driving for both our shareholders and franchisees in the form of share appreciation, regular dividends, open market share repurchases and store profitability. We were also able to use our balance sheet and strong relationships with lenders to provide an additional opportunity for shareholders through an accelerated share repurchase program.

$600 million program.

Begins in the fourth quarter of 2015 with expected completion by the end of the first quarter of 2016.

Recapitalization Elements

Whole-business securitization refinancing with proceeds of $1.3 billion in new fixed rate notes with the following tranches:

$500 million 3.484% Class A-2-I notes with an anticipated repayment date of October 2020.

$800 million 4.474% Class A-2-II notes with an anticipated repayment date of October 2025.

The new fixed rate notes have scheduled principal payments of 1% of the principal each year, which equates to approximately $13 million per year in years 1-5.

$125 million in variable funding notes, which were undrawn at closing, subject to approximately $46.2 million in undrawn letters of credit. This facility replaces the existing $100 million variable funding note facility.

Use of proceeds:

prepay and retire 35% of its existing 2012 notes at par, for approximately $551 million on October 26

pay $22 million in amortization catch-up on the 2012 notes (expected in January 2016),

pay debt issuance and other costs,

conduct a $600 million ASR program as part of the $800 million authorization, and

utilize remaining proceeds for general corporate purposes which may include additional share repurchases.

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Dominos Pizza Recapitalization, Page Two

$963 million 5.216% 2012 Class A-2 Notes remain outstanding with an anticipated maturity of January 2019.

A $22 million amortization catch-up payment is expected to be made in January 2016 on these notes.

An additional $25 million of principal payments are scheduled to be made in 2016.

Estimated Fourth Quarter Impacts

Debt issuance...


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