New Issue: O' Charley's prices $125 million 10-year notes to yield 9%

By Paul Deckelman

New York, Oct. 30 - O'Charley's Inc. priced a $125 million offering of senior subordinated notes due November 1, 2013 Thursday at par to yield 9%, syndicate sources said.

They were brought to market by sole bookrunning manager Wachovia Securities, with Morgan Joseph & Co. Inc. as co-manager.

O' Charley's, a Nashville, Tenn.-based restaurant chain operator, plans to use the proceeds of the Rule 144A offering to repay term loan debt and part of its credit revolver.

Issuer:	O'Charley's Inc.
Amount:	$125 million
Maturity:	Nov. 1, 2013
Security description:	Senior subordinated notes
Book-running manager:	Wachovia Securities
Co-manager:	Morgan Joseph & Co.
Coupon:	9%
Price:	Par
Yield:	9%
Spread:	465 basis points
Call features:	Non-callable for the first five years, then at 104.5 on Nov. 1, 2008; at 103 on Nov. 1, 2009; at 101.5 on Nov. 1, 2010; and finally at par on Nov. 1, 2011.
Equity clawback:	Until Nov.1, 2006 for 35% at 109
Settlement date:	Nov. 4, 2003
Ratings:	Moody's: Ba3
	S&P: B
Rule 144A CUSIP:	670823AA1

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