Published on 12/16/2003 in the Prospect News High Yield Daily.
New Issue: El Pollo Loco $110 million six-year notes yield 9¼%
By Paul A. Harris
St. Louis, Dec. 16 - El Pollo Loco Inc. sold $110 million of six-year senior secured notes (B2/B) Tuesday at par to yield 9¼%, a source said.
The notes, which mature Dec. 15, 2009, were talked to yield 9¼%-9½%.
Jefferies & Co. ran the books on the Rule 144A/Regulation S deal.
El Pollo Loco, a Los Angeles-based chicken restaurant chain, plans to use proceeds to refinance the company's bank loan and to pay a $70 million dividend.
| Issuer: | El Pollo Loco Inc.
|
| Amount | $110 million
|
| Maturity: | Dec. 15, 2009
|
| Security description: | Senior secured notes
|
| Bookrunner: | Jefferies & Co.
|
| Coupon: | Par
|
| Yield: | 9¼%
|
| Call schedule: | Callable on or after Dec. 15, 2006 at 104.625, 102.313, par on Dec. 15, 2008 and thereafter
|
| Equity clawback: | Until Dec. 15, 2006 for 35% at 109.25%
|
| Settlement date | Dec. 19, 2003 (T+3)
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Price talk: | 9¼%-9½%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
