Sizzling Platter talks $325 million five-year notes at 7¾% area; books close Thursday

By Paul A. Harris

Portland, Ore., Oct. 21 – Sizzling Platter, LLC and Sizzling Platter Issuer Corp. set initial price talk on their $325 million offering of five-year senior secured notes (B3//B-) in the 7¾% area, according to market sources.

Books close Thursday afternoon.

Joint bookrunner UBS Securities LLC will bill and deliver. Mizuho Securities USA Inc. is also a joint bookrunner.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon. They feature a three-year 40% equity clawback and a 101% poison put.

The Murray, Utah-based parent company of restaurant chains plans to use the proceeds to repay debt.

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