Morton's Restaurant to repay 7.5% notes due 2010, 14% notes due 2010 with IPO

By Ted A. Knutson

Washington, Dec. 2 - Morton's Restaurant Group, Inc. said it will repay all $93.1 million principal amount of its 7.5% senior secured notes due July 1, 2010 and $44.3 million principal amount of its 14% senior secured notes due Dec. 30, 2010 with a newly announced $150 million initial public offering.

The 7.5% senior secured notes were issued at a discount of 15% and a yield to maturity of 12.005% including the accretion of the discount and the amortization of the related deferred financing costs.

Wachovia Securities is the lead underwriter with participation from Piper Jaffray, RBC Capital Markets, SG Cowen & Co and Jeffries & Co.

New Hyde Park, N.Y.-based Morton's is an upscale restaurant chain.

The payments of the notes will include pre-payment penalties.

The announcement was made in an S-1 filing with the Securities and Exchange Commission.

© 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.