New Issue: Dave & Buster's sells $100 million proceeds 0% five-year discount notes to yield 12¼%

By Paul A. Harris

Portland, Ore., Feb. 16 - Dave & Buster's, Inc. raised $100 million by issuing five-year senior discount notes via its holding company, Dave & Buster's Parent, Inc. on Wednesday, market sources said.

The zero-coupon notes priced at 55.313 to yield 12¼%.

There was no price talk.

J.P. Morgan Securities LLC and Jefferies & Co. were the joint bookrunners for the quick-to-market deal.

The Dallas-based restaurant and entertainment company plans to use the proceeds to pay a dividend to its stockholders, or to repurchase a portion of Dave & Buster's Parent's common stock.

Issuer:	Dave & Buster's Parent, Inc. (Dave & Buster's, Inc.)
Face amount:	$180.79 million
Proceeds:	$100 million (approximately)
Maturity:	Feb. 15, 2016
Securities:	Senior discount notes
Bookrunners:	J.P. Morgan Securities LLC, Jefferies & Co.
Coupon:	0%
Price:	55.313
Yield:	12¼%
Spread:	989 bps
Call protection:	Make-whole call at Treasuries plus 50 bps for the first 2.5 years, then callable at a premium
Trade date:	Feb. 16
Settlement date:	Feb. 22
Distribution:	Rule 144A
Price talk:	None
Marketing:	Quick to market

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