Spartanburg-based Advantica Restaurant Group, one of the largest restaurant companies in the US, has announced the closing of its offer to exchange up to US$212m of registered 12 3/4% senior notes due 2007 jointly issued by Denny's Holdings and Advantica (New Notes) for up to US$265m of Advantica's 11 1/4% senior notes due 2008 (Old Notes).