Outback Steakhouse parent Bloomin’ Brands Inc. filed plans for an initial public offering of up to $300 million in common stock to help pay down debt taken on from its 2007 private-equity buyout.
The casual-dining company, which also owns Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar, and Roy’s, has carried a heavy debt load since its predecessor accepted a roughly $3 billion bid from a group led by affiliates of private-equity firms Bain Capital Partners LLC and Catterton Management Co.
The Outback parent, which opened its first restaurant in 1988, was previously called OSI Restaurant Partners Inc. and started trading publicly in 1991.
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