- Posted August 15, 2011
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Domino's Pizza postpones potential refinancing of debt
ANN ARBOR (AP) -- Domino's Pizza Inc. is postponing its potential early refinancing of existing securitized debt because of market volatility.
The markets have seen massive swings ever since Standard & Poor's lowered the U.S. debt rating last Friday.
The pizza company said last Thursday that its debt requires interest-only payments until April 2012 and can be extended by two years through two one-year extensions if certain requirements are met.
The debt includes a prepayment penalty if refinanced before January. Domino's had $1.45 billion in outstanding securitized debt as of June 19. The Ann Arbor chain said it will continue to monitor market conditions.
Domino's had 9,436 franchised and company-owned stores in the U.S. and more than 70 international markets at the second quarter's end. The company reported last month that its second-quarter net income climbed 12 percent as sales rose in the U.S. and abroad.
Published: Mon, Aug 15, 2011
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