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July 11, 2011 2:28 PM

Ropes, Simpson Refuel with Dunkin' Brands $460M IPO

Posted by Brian Baxter

DunkinBrands_Blog Ropes & Gray and Simpson Thacher & Bartlett have landed lead roles on an upcoming initial public offering of Dunkin' Brands, operator of the Dunkin' Donuts and Baskin-Robbins chains.

The Canton, Mass.-based Dunkin' Brands returned to profitability this year, overcoming a heavy debt load acquired when it was purchased by private equity firms Bain Capital LLC, Carlyle Group, and Thomas H. Lee Partners. The company is seeking to raise up to $460.6 million through an IPO, Bloomberg reports, noting that Dunkin's had about $1.8 billion remaining in long-term debt as of March.

A filing with the SEC by Dunkin' Brands on Monday estimates legal fees and expenses related to the offering at $2.5 million.

Ropes & Gray private equity partner Craig Marcus in Boston is leading a team from the firm advising Dunkin'--a Boston icon--in its effort to go public. The firm has enjoyed long-term relationships with two of Dunkin's Boston-based private equity owners, Bain and THL. Ropes counseled the consortium when it acquired Dunkin' for $2.4 billion in 2006. (Paul, Weiss, Rifkind, Wharton & Garrison finance cochair Jordan Yarett was named one of The American Lawyer's Dealmakers of the Year in 2007 for his role advising lead underwriter Lehman Brothers on the Dunkin' Brands buyout.)

Simpson Thacher senior corporate partner D. Rhett Brandon in New York is advising underwriters led by Bank of America/Merrill Lynch, JPMorgan Chase, Morgan Stanley, and Goldman Sachs on the IPO for Dunkin' Brands. Brandon has also handled senior notes offerings by Dunkin' to refinance previously issued asset-backed security notes and fund a special dividend to owners. The banks underwriting the IPO may try to sell $500 million in Dunkin' stock, The Wall Street Journal reports.

Dunkin's general counsel is Richard Emmett.

 

Photo: Getty Images

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