El Pollo Loco set to wrap up roadshow; initial guidance on $110 million notes is 12%-12½%

By Paul A. Harris

Portland, Ore., June 13 - El Pollo Loco, Inc. is expected to conclude a roadshow for its $110 million offering of 6.5-year senior secured notes (expected ratings Caa2/CCC) on Tuesday, according to a market source.

The deal, which comes with initial guidance of 12% to 12½%, is seeing its strongest demand in California, the source related.

Jefferies & Co. Inc. is leading the private placement.

The notes come with two years of call protection.

The Costa Mesa, Calif.-based restaurant operator plans to use the proceeds to refinance debt.

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