Hotels, Restaurants and Leisure
Company Overview of OSI Restaurant Partners, LLC
OSI Restaurant Partners, LLC owns and operates casual and upscale casual dining restaurants primarily in the United States. The company operates restaurants under the Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar, and Roy’s concepts. As of December 31, 2011, it owned and operated 1,248 restaurants and had 195 restaurants operating under a franchise or joint venture arrangement in 49 states and 21 countries and territories. OSI Restaurant Partners, LLC was founded in 1987 and is headquartered in Tampa, Florida. OSI Restaurant Partners, LLC operates as a subsidiary of OSI HoldCo, Inc.
2202 North West Shore Boulevard
Tampa, FL 33607
Founded in 1987
Key Executives for OSI Restaurant Partners, LLC
Chairperson of The Board of Directors
Chief Financial Officer and Executive Vice President
Executive Vice President and President of Outback Steakhouse
Executive Vice President and President of Carrabba’S Italian Grill
Compensation as of Fiscal Year 2013.
OSI Restaurant Partners, LLC Key Developments
Outback Steakhouse Faces Federal Wage-And-Hour Lawsuit Alleging Failure to Pay Employees
Oct 8 13
Lawyers in the Las Vegas office of Wolf Rifkin Shapiro Schulman & Rabkin LLP, have filed a class action lawsuit in Nevada federal district court against Outback Steakhouse and its parent companies under the Fair Labor Standards Act. The suit claims, on behalf of plaintiffs Brooke Cardoza and Cody Hancock, along with all other similarly-situated employees of the company, that Outback Steakhouse requires unpaid work by employees prior to scheduled shifts, refuses paid and unpaid breaks, fails to pay employees for training sessions and mandatory company meetings and events, and even refuses to provide required time and opportunity for nursing mothers to express milk-all of which are violations of federal law.
OSI Restaurant Partners, LLC Completes Repricing of Senior Secured Term Loan B
Apr 10 13
Bloomin' Brands Inc. announced that its wholly-owned subsidiary, OSI Restaurant Partners, LLC, completed the repricing of its existing $1.0 billion senior secured term loan B credit facility. The repricing replaces OSI's existing senior secured term loan B credit facility with a new senior secured term loan B credit facility at the current outstanding principal balance of $975.0 million. In addition, the repricing reduces the applicable interest rate margin on the Term Loan B from 2.50% to 1.50% for base rate loans and from 3.50% to 2.50% for Eurocurrency rate loans and reduces the interest rate floor on the Term Loan B from 2.25% to 2.00% for base rate loans and from 1.25% to 1.00% for Eurocurrency rate loans. Based on current market conditions, the repricing represents a reduction in interest expense of 125 basis points and is expected to reduce annual cash interest payments by approximately $12.0 million, before considering future principal payments. Pursuant to the terms of the existing credit agreement, the Company is required to pay a 1.0% prepayment penalty of approximately $10.0 million. The maturity date for the Term Loan B remains October 26, 2019 and no changes were made to the financial covenants or scheduled amortization.
OSI Restaurant Partners, LLC Intends to Seek a Repricing of its Existing $1.0 Billion Senior Secured Term Loan
Mar 28 13
Bloomin' Brands Inc. announced OSI Restaurant Partners, LLC intends to seek a repricing of its existing $1.0 billion senior secured term loan B credit facility, maturing in 2019, to benefit from lower interest rates currently available in the senior secured debt markets. In connection with the proposed repricing, the term loan B would be replaced with a $975.0 million senior secured term loan B credit facility, which takes into account voluntary principal prepayments of $25.0 million made during the first quarter of 2013 on the existing term loan B.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|