IHOP to delay completing refinancing |
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Sat, 10 Feb 2007 00:10
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GLENDALE, Calif. (AFX) - IHOP Corp., owner of the International House of Pancakes restaurant chain, said Friday it will delay completing its corporate refinancing until it resolves its trademarks and service marks issues.The company said it has allowed certain trademarks and service mark registrations to lapse with the U.S. Patent and Trademark Office.In the refinancing, IHOP subsidiaries will issue up to $200 million of notes in a private securitization. The proceeds would then be distributed to IHOP and used for share repurchases and to repay its debt, the company said.IHOP shares fell 45 cents to close at $53.66 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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