Nathan's Famous talks $150 million eight-year notes at 6¾% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., Oct. 18 – Nathan's Famous, Inc. talked its $150 million offering of eight-year senior secured notes (B-) to yield in the 6¾% area, according to an informed source.

Books close at 12:30 p.m. ET on Wednesday, and the Rule 144A and Regulation S for life deal is set to price shortly thereafter.

Jefferies LLC is the bookrunner.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.