Denny's $175 million eight-year notes talked at 10% area, to price Wednesday

By Paul A. Harris

St. Louis, Sept. 28 - Price talk on Denny's Holdings Inc./Denny's Corp.'s $175 million offering of eight-year senior notes (Caa1/CCC+) is in the 10% area, a syndicate source said Tuesday.

Pricing is expected midday Wednesday.

UBS Investment Bank, Goldman Sachs & Co. and Banc of America Securities are joint bookrunners for the Rule 144A offering.

The notes come with four years of call protection.

Proceeds will be used to refinance the company's existing senior notes.

Denny's is a Spartanburg, S.C., family-style restaurant chain.

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