Brinker International, Inc. (NYSE: EAT) announced that it closed the previously announced private offering of $350 million of its 5.000% Senior Notes due 2024. Furthermore, the Company has entered into a $300 million accelerated share repurchase agreement with Bank of America, N.A. ("BofA"). The Company will acquire shares under the ASR Agreement as part of its previously announced share repurchase program.

Pursuant to the terms of the ASR Agreement, the Company will pay BofA $300 million in cash and will initially receive approximately 4.6 million shares of the Company's common stock. Final settlement of the ASR Agreement is expected to be completed by the end of the Company's 2017 fiscal third quarter. The Company expects to continue to repurchase shares in the open market from time to time, subject to market and other conditions.

About Brinker Brinker International, Inc. is one of the world's leading casual dining restaurant companies. Founded in 1975 and based in Dallas, Texas, as of June 29, 2016, Brinker owned, operated, or franchised 1,660 restaurants under the names Chili's® Grill & Bar (1,609 restaurants) and Maggiano's Little Italy® (51 restaurants).