Mrs. Fields Famous Brands bringing up to $121.7 million seven-year notes via Jefferies

By Paul A. Harris

St. Louis, Feb. 6 - Mrs. Fields Famous Brands LLC/Mrs. Fields Financing Co. Inc. plans to sell up to $121.7 million of seven-year senior secured notes in an offering expected to price in late February or early March, according to an informed source.

Jefferies & Co. will run the books on the Rule 144A offering.

The size of the new bond deal depends upon the tender and exchange offers which the company commenced on Friday.

The new notes will come with four years of call protection and will contain a three-year 35% equity clawback.

Proceeds will be used to repay debt.

The Salt Lake City-base company is a franchiser in the snack food industry.

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