Brinker International Announces Pricing Of $550M Of Notes

Brinker International EAT today announced it has priced $550 million of Notes, consisting of two tranches, $250 million due 2018 and $300 million due 2023. The 2018 Notes will pay interest at 2.600% and mature on May 15, 2018. The 2023 Notes will pay interest at 3.875% and mature on May 15, 2023. The Company intends to use the net proceeds from the transaction to redeem its outstanding notes due 2014, repay a portion of the outstanding balance of its revolving credit facility and for general corporate purposes, including possible repurchases of common stock under Brinker's existing share repurchase program. The redemption of the notes due 2014 will result in a loss of approximately $16 million before taxes and will negatively impact fiscal 2013 fourth quarter diluted earnings per share by approximately $0.14. Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC are serving as the joint book-running managers for the offering, with Mitsubishi UFJ Securities (USA), Inc., Regions Securities LLC and Wells Fargo Securities, LLC acting as co-managers. Copies of the prospectus and prospectus supplement relating to this offering may be obtained from: