DineEquity Inc. has priced an offering of $825 million in senior unsecured notes, proceeds of which will be used to buy back older debt.

The Glendale parent of Applebee’s Neighborhood Grill & Bar and IHOP Restaurants said late Wednesday that the senior unsecured notes will pay 9.5 percent interest and are due in 2018. The notes will be issued at full value and guaranteed by its subsidiaries. The offering, which the company first announced Sept. 22, is expected to close by Oct. 19.

DineEquity, which owns or operates more than 3,450 Applebee’s and IHOP restaurants, said it intends to use the proceeds from the sales, plus the proceeds from secured debt financing, to pay for previously announced tender offers for old debt issues. The company has been working to improve its finances and lower debt incurred by its 2007 acquisition of the Applebee’s chain by selling restaurants to franchisees.

Shares were up 22 cents, or less than 1 percent, to $45.88 in midday trading on the New York Stock Exchange.