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Wednesday, October 02, 2013

‘Tis the Season to Go Public – Outback, Burger King, Facebook IPOs

Some companies are planning to do for IPOs for them to be known by the public oh so well. Insider Monkey share to us its posting about "‘Tis the Season to Go Public – Outback, Burger King, Facebook IPOs" for us to read on. Facebook, Burger King, Outback Steakhouse – what do these three iconic companies have in common? All three are planning IPOs and, in the case of Outback and Burger King, some of the top hedge funds in the world are involved.

Outback Steakhouse, which is owned by a company called Bloomin' Brands, filed its intention to go public on Friday, April 6. In the S-1 Registration Statement, the company listed a fund-raising goal of $300 million. Outback Steakhouse is only one of the restaurant chains Bloomin' Brands controls. Others include: Bonefish Grill, Carrabba's Italian Grill and Fleming's Prime Steakhouse. "Bloomin’ Brands said that it planned to use proceeds from the I.P.O. to pay off its $248.1 million in senior bonds, with any remaining balance to be used for general corporate purposes. The company reported $2.1 billion in total debt," according to the New York Times. "Bloomin’ Brands was once known as OSI Restaurant Partners, until its 2006 takeover by Bain Capital, Catterton Management and the company’s three founders for about $3.2 billion." The New York Times added that "they will retain their controlling stake even after the I.P.O." Bloomin' Brands IPO is to be underwritten by: Merrill Lynch, Pierce, Fenner & Smith; Morgan Stanley & Co, JP Morgan Securities; Deutsche Bank Securities; and, Goldman, Sachs & Co.

For more details about IPOs, please go to the site of Insider Monkey.