Quick Restaurants sets talk in two-part offering; pricing Thursday

By Paul A. Harris

Portland, Ore., April 3 - France-based Quick Restaurants, issuing via its Financiere Quick SA unit, set spread talk in its €585 million two-part offering of floating-rate notes on Thursday, according to a market source.

A €430 million tranche of five-year senior secured notes, which comes with one year of call protection, is talked at Libor plus 475 basis points to 500 bps.

A €155 million tranche of 5.5-year senior unsecured notes, which comes with 1.5 years of call protection, is talked at Libor plus 750 bps to 775 bps.

Final terms are expected shortly.

Joint global coordinator Goldman Sachs International will bill and deliver. JPMorgan is a joint bookrunner.

Proceeds, together with cash on the balance sheet, will be used to repay existing senior debt, second-lien debt, mezzanine debt, a shareholder loan and convertible bonds.

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