News

Domino's plans accelerated buyback from recapitalization proceeds

Domino’s is replacing an existing $200M open-market repurchase authorization with a new $800M authorization, which includes a $600M accelerated buyback.

November 2, 2015

Domino’s is replacing an existing $200M open-market repurchase authorization with a new $800M authorization, which includes a $600M accelerated buyback.

The company, according to a news report, concluded a recapitalization on Oct. 21 with proceeds of $1.3B new fixed-rate notes. It moved to prepay 35 percent of existing 2012 notes at par, along with debt issuance and other costs and the new $600M buyback.

The company will begin the repurchases in Q4 and expects to complete them by the end of Q1, the report stated.

Domino's had moved 1.5 percent lower after hours before the news, following a 0.8 percent decline Oct. 27.