El Pollo Loco $110 million six-year notes talked at 9¼%-9½%; pricing Thursday

By Paul A. Harris

St. Louis, Dec. 15 - El Pollo Loco Inc.'s proposed $110 million offering of six-year senior secured notes (B2/B) is talked to yield 9¼%-9½%, a source said Monday. Pricing is expected Tuesday.

Jefferies & Co. is the bookrunner on the Rule 144A offering.

The notes, which mature in 2009, will be non-callable for three years.

El Pollo Loco, a Los Angeles-based chicken restaurant chain, plans to use proceeds to refinance the company's existing bank loan and to pay a $70 million dividend.

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