Dunkin’ Sells $900 Million of Bonds Backed By Franchise Fees

Dunkin’ Brands Group Inc. sold $900 milllion of bonds backed by the fees it gets from franchising its restaurants, its first such offering in almost four years.

The coffee and doughnut chain this week priced a two-part note, a type of debt known as a whole-business securitization. The longer-term portion of the sale — a $350 million security with a weighted average life of nearly seven years — sold at a yield of about 5.2%, or 1.3 percentage point more than benchmark rates.