Domino’s serves up whole biz ABS

pizza_Adobe_575x375_22May2020
By Jennifer Kang
06 Apr 2021

Domino’s Pizza is preparing a new ABS transaction which will fund a shareholder dividend, as well as refinancing a portion of its outstanding securitization debt. With US consumer spending quickly recovering, most whole business ABS paper has become very expensive, making it less of an attractive option for investors looking for high returns, sources say.

Domino’s is planning on issuing $1.5bn of new securitized notes and will use the proceeds to pay a dividend, as well as prepay and retire $873m worth of notes from its 2017-1 deal, according to a statement from Domino’s on Monday.

The pizza restaurant chain last ...

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