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Sizzling Platter to price $325 million five-year notes Oct. 19 week; whisper in high 7% area
By Paul A. Harris
Portland, Ore., Oct. 19 – Sizzling Platter, LLC and Sizzling Platter Issuer Corp. plan to participate in an investor conference call scheduled for 10 a.m. ET on Tuesday, according to market sources.
The Murray, Utah-based parent company of restaurant chains intends to sell $325 million of five-year senior secured notes (//B-) later this week.
Initial guidance is in the high 7% area, a trader said.
Joint bookrunner UBS Securities LLC will bill and deliver. Mizuho Securities USA Inc. is also a joint bookrunner.
The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon. They feature a three-year 40% equity clawback and a 101% poison put.
Sizzling Platter plans to use the proceeds to repay debt.
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