Nathan’s Famous to price $150 million eight-year notes on Wednesday

By Paul A. Harris

Portland, Ore., Oct. 17 – Nathan's Famous, Inc. plans to price a $150 million offering of eight-year senior secured notes on Wednesday, according to an informed source.

Jefferies LLC is the bookrunner for the Rule 144A and Regulation S for life offering.

The notes become callable after three years at par plus 50% of the coupon.

The Jericho, N.Y.-based company plans to use the proceeds to refinance its 10% notes due 2020, as well as to fund a dividend, and for general corporate purposes.

Nathan's Famous is a branded licensor, wholesaler and retailer of products marketed under the Nathan's Famous brand, including Nathan’s World Famous Beef Hot Dogs.

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