WHEN: TODAY, TUESDAY, JULY 26TH
WHERE: CNBC'S "THE CALL"
Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. All references must be sourced to CNBC. For more information on this story, go to: http://www.cnbc.com/id/43894956
KATE KELLY: SO I'M HEARING THAT WITH STRONG MOMENTUM FOR THE DEAL, WHICH WILL OFFICIALLY BE PRICED AFTER THE BELL TONIGHT, DUNKIN' BRANDS IS LIKELY TO WIND UP AT EITHER 19 OR 20 DOLLARS PER SHARE. A HEALTHY DOLLAR TO TWO DOLLARS ABOVE THE RANGE NICOLE MENTIONED. BECAUSE OF ALL THE INTEREST, UPSIZING THE DEAL BY SELLING MORE SHARES OR INCREASING THE PRICE EVEN FURTHER WERE BOTH UNDER CONSIDERATION I HEAR IN RECENT DAYS EVEN BEFORE THE WEEKEND. BUT IN THE END, THE SPONSORS WHO OWN THIS COMPANY DID NOT WANT TO SELL ANY STOCK BECAUSE THEY ARE SUCH BELIEVERS IN FUTURE PROSPECTS FROM WHAT I AM TOLD. SO, IT LOOKS LIKE IT WILL BE JUST THE COMPANY ITSELF SELLING ABOUT 25 MILLION SHARES OF STOCK IF YOU INCLUDE THE OVER ALLOTMENT OR GREENSHOE OPTION, WHICH I'M TOLD WILL BE EXERCISED. BETWEEN THE PROCEEDS OF THIS IPO AND SOME NEW BORROWING THE COMPANY HAS DONE, DUNKIN' SHOULD BE ABLE TO PAY DOWN THE MAJORITY OF ITS SENIOR DEBT, WHICH STANDS AT ABOUT 475 MILLION DOLLARS TODAY. ANY ADDITIONAL CASH THE DONUT COMPANY RAISES WILL GO TO WORKING CAPITAL AND GENERAL PURPOSES, WHICH AS WE MENTIONED INCLUDE AMBITIOUS EXPANSION PLANS HERE AND IN ASIA AND THE MIDDLE EAST. I'LL BE MONITORING THIS DEAL THROUGHOUT THE DAY, MELISSA AND WILL BRING EVERYBODY ADDITIONAL DETAILS ON THE PRICING DECISION AS SOON AS I HEAR THEM.
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