IHOP to Flip Applebee's Business Model

On Monday, the company projected that by unloading certain Applebee's assets through sale-leaseback transactions, and making it an IP business, it would generate $950 million in cash over a three-year period. The finance chief asserted that he used the securitization structure for the Applebee's purchase because the company is familiar with it, and the deal allows "maximum borrowing at the lowest cost possible."

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