04:50 PM EDT, 06/17/2025 (MT Newswires) -- Dine Brands Global ( DIN ) said late Tuesday its two special purpose subsidiaries closed the refinancing of $600 million of series 2025-1 fixed rate class A-2 senior secured notes bearing a rate of 6.72% with a five-year term.

The subsidiaries also entered a purchase agreement to issue up to $325 million of series 2025-1 class A-1 variable funding senior notes to borrow funds periodically on a revolving basis. The interest rate will depend on the type of borrowing, according to a statement.

The net proceeds of the facility will be used to repay debt under the company's series 2019-1 class A-2-II fixed rate senior notes, cover transaction costs, and for general corporate purposes, the company said.