Hotels, Restaurants and Leisure
Company Overview of OSI Restaurant Partners, LLC
OSI Restaurant Partners, LLC owns and operates casual and upscale casual dining restaurants primarily in the United States. The company operates restaurants under the Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar, and Roy’s concepts. As of December 31, 2011, it owned and operated 1,248 restaurants and had 195 restaurants operating under a franchise or joint venture arrangement in 49 states and 21 countries and territories. OSI Restaurant Partners, LLC was founded in 1987 and is headquartered in Tampa, Florida. OSI Restaurant Partners, LLC operates as a subsidiary of OSI HoldCo, Inc.
2202 North West Shore Boulevard
Tampa, FL 33607
Founded in 1987
Key Executives for OSI Restaurant Partners, LLC
Chairperson of The Board of Directors, Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Executive Vice President and President of Outback Steakhouse
President of Bonefish Grill LLC
Chief Legal Officer, Executive Vice President and Secretary
Compensation as of Fiscal Year 2016.
OSI Restaurant Partners, LLC Key Developments
Outback Steakhouse® Debuts its Newest Restaurant in Lee Vista on June 27, 2016
Jun 29 16
Outback Steakhouse® debuted its newest restaurant in Lee Vista on June 27, 2016. To show its support of the local community, a portion of the restaurant's opening day sales benefitted Santiago and Friends, which provides culturally responsive, family centered interventions for individuals with autism spectrum disorders through the services of early intervention and behavior analysis. The restaurant is the newest addition to the Lee Vista Promenade and features an updated 'Modern Australia' design both inside and out.
To mark the official grand opening, the restaurant held a ribbon cutting ceremony with the Orlando Regional Chamber of Commerce. The restaurant features a 'Modern Australia' design with décor that mirrors the indigenous flora and fauna, adventure, geography and leisure of modern day Australia. Guests can also enjoy a spacious, energetic bar area that includes a community table – a great place to meet up with friends and enjoy specialty beer, wine and hand-crafted cocktails. The bar also features customized seating and furnishings and is connected directly to the outdoor dining patio. The new Outback is located at 6845 S. Semoran Blvd. and is open from 11 a.m. – 10 p.m. Sunday – Thursday and 11 a.m. – 11 p.m. Friday – Saturday.
OSI restaurant partners, LLC Enters Fifth Amendment to Credit Agreement
Dec 16 15
On December 11, 2015, OSI restaurant partners, LLC, a wholly-owned subsidiary of Bloomin' Brands Inc. as borrower, OSI HoldCo Inc., OSI’s direct parent and a wholly-owned subsidiary of the company, certain subsidiaries of OSI, certain lenders (the lenders) and Wells Fargo Bank, National Association, as administrative agent for the lenders (in such capacity, the administrative agent), entered into a fifth amendment to OSI’s existing credit agreement, dated as of October 26, 2012 (as previously amended, the existing credit agreement, and as amended by the amendment, the amended credit agreement). The amendment provided an incremental term A-1 loan in an aggregate principal amount of $150.0 million, and made certain other revisions to the terms of the existing credit agreement. The term A-1 loan has the same maturity date, bears interest at the same rate, and shares ratably in all payments, including optional and mandatory prepayments, as the existing term a loan. The term A-1 loan is repayable in quarterly principal installments, commencing March 31, 2016, ranging in amount from $1,875,000 to $3,750,000 per quarter, with the outstanding balance due at maturity. Amounts borrowed under the term A-1 loan were used to repay a portion of the outstanding revolving credit loans under the amended credit agreement. Prior to the repayment, OSI had an outstanding balance of $617.0 million under its revolving credit loan, and an additional $29.6 million of the revolving credit facility was committed for the issuance of letters of credit and not available for borrowing. In addition to the term A-1 loan, the amendment increases the pro forma total net leverage ratio test, which is a measure of the ratio of OSI’s consolidated total debt to OSI’s consolidated EBITDA (each as defined in the existing credit agreement) and consolidated senior secured net leverage ratio test, which is a measure of the ratio of OSI’s consolidated senior secured net debt to OSI’s consolidated EBITDA (each as defined in the existing credit agreement), in each case from 2.5 to 1.0 to 3.0 to 1.0, for purposes of restricted payments and mandatory prepayment requirements. The amendment also allows for the making of regular quarterly dividend payments upon approval by the board of directors (assuming compliance with existing financial covenants and in the absence of default), and permits the making of loans or advances to OSI HoldCo. To repay debt under existing mortgage and mezzanine financing arrangements that are in place with certain lease entities in an aggregate principal amount of $500.0 million, with such loans or advancements being treated in lieu of, and not in excess of, restricted payments already allowed under the existing credit agreement.
Outback Steakhouse to Open Restaurant in Bronx
Sep 24 15
Outback Steakhouse announced that it is debuting its newest restaurant in the Bronx, opening its doors at 11 a.m. on September 28, 2015. The restaurant will be the newest addition to The Mall at Bay Plaza and the first in the area to feature a new Modern Australia design both inside and out. In addition to Outback's signature bold steak dinner entrees, guests can enjoy new core menu innovations, including the new Wood-Fire Grilled Flat Iron Steak and Premium Sides, such as Steakhouse Mac & Cheese, Loaded Mash and Parmesan Fries. The restaurant will also feature a wide variety of fast and affordable lunch combos, starting at just $6.99, such as the Aussie Steak Tacos or the new Ribeye Melt. The new restaurant will feature a ‘Modern Australia’ design with decor that mirrors the indigenous flora and fauna, adventure, geography and leisure of modern day Australia. Guests will also enjoy a spacious, energetic bar area that includes a community table a great place to meet up with friends and enjoy specialty beer, wine and hand-crafted cocktails. The new bar will also feature customized seating and furnishings and is connected directly to the outdoor dining patio. The Outback restaurant is located at 270 Baychester Ave. and is open from 11 a.m. to 10 p.m. Sunday to Thursday and 11 a.m. to 11:30 p.m. Friday to Saturday.
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