Filing Summary
Company: Bloomin’ Brands, Inc. Filing: Form 8-K, reporting an event dated September 25, 2026; filed September 29, 2026. This is a financing update, not a periodic financial-results report.
Business Context and Key Terms
Bloomin’ Brands and wholly owned subsidiary OSI Restaurant Partners, LLC entered into a Fourth Amended and Restated Credit Agreement with participating lenders and Wells Fargo Bank, N.A., as administrative agent. It amends and restates the credit agreement dated September 19, 2024, and extends the maturity to September 25, 2031.
- Revolving credit commitments, commitment-increase provisions, interest-rate elections, and spreads remained substantially unchanged. The filing text does not provide clear dollar amounts for commitments or interest spreads.
- The agreement retains a maximum Total Net Leverage Ratio of 4.50 to 1.00 and adds a maximum Consolidated Senior Secured Net Leverage Ratio of 3.50 to 1.00. Both ratios may be temporarily increased to a limited extent in connection with material acquisitions.
- Domestic 100%-owned subsidiaries generally guarantee the obligations, subject to exceptions. The obligations are secured by substantially all owned or later-acquired assets of the borrowers and guarantors, including pledges of substantially all domestic subsidiary stock.
- Other affirmative and negative covenants are described as substantially similar to those in the prior agreement.
Financial Metrics and Changes
The filing provides no revenue, profit, cash flow, margin, liquidity balance, or debt-balance figures. It does not quantify the revolving commitments or report a change in their amount. The principal stated change is the maturity extension, alongside the addition of the senior secured leverage covenant.
Outlook, Risks, and Other Matters
No financial guidance or operating outlook is provided. The leverage limits, collateral package, guarantees, and other covenants are material financing terms. Certain lenders and affiliates have provided the company customary banking and advisory services and may continue to do so in the ordinary course. The company issued a press release announcing the agreement on September 29, 2026; the release is furnished with the filing.
Investor Facts to Verify
- Review Exhibit 10.1 for the full agreement, including the exact commitment amount, pricing, fees, covenant definitions, and exceptions.
- Assess the company’s current and projected leverage against both covenant limits, including any acquisition-related temporary increases.
- Confirm the facility’s outstanding borrowings, availability, and collateral and guarantee scope in the company’s other disclosures.
- Review the September 29, 2026 press release (Exhibit 99.1) for any additional explanation of the refinancing.