CKE to repay some toggle, 11 3/8% notes with common stock proceeds

By Ashley Montgomery

Kansas City, Kan., May 17 - CKE Inc. plans to use the proceeds from a common stock offering to repay a portion of its 10½%/11¼% senior PIK toggle notes due 2016 and its 11 3/8% senior secured second-lien notes due 2018, according to an S-1 filing with the Securities and Exchange Commission.

Proceeds will also be used to pay Apollo Management fees related to its management services agreement with the company and for general corporate purposes.

Carpinteria, Calif.-based CKE and it subsidiaries own Carl's Jr. and Hardee's quick-service restaurant chains.

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