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Avado to delay coupon payments but will pay within grace period
New York, Nov. 30 - Avado Brands, Inc. said it intends to delay coupon payments due Dec. 1 and Dec. 15 on its outstanding notes but intends to make those payments within the 30-day no-default grace period.
Affected is the payment due Dec. 1 on Avado's 9¾% senior notes and the payment due Dec. 15 on its 11¾% senior subordinated notes, according to the Madison, Ga.-based restaurant operator.
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