Arby’s $485 million notes backing Buffalo Wild Wings purchase expected in January

By Paul A. Harris

Portland, Ore., Dec. 20 – Arby’s Restaurant Group Inc. is expected to come to market in January with $485 million of senior notes backing its acquisition of Buffalo Wild Wings Inc., a sellside source said.

Barclays will lead the bond deal, the source added.

The financing also includes $1.73 billion of bank debt and up to $783 million in equity and cash on hand.

Buffalo Wild Wings is being acquired for $157.00 per share in cash in a transaction valued at about $2.9 billion, including net debt.

Closing is expected in the first quarter of 2018.

Arby’s is an Atlanta-based quick-service restaurant chain. Buffalo Wild Wings is a Minneapolis-based owner, operator and franchisor of Buffalo Wild Wings restaurants.

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