Vicorp Restaurants talks $150 million seven-year notes at 10%, adds year of call protection

By Paul A. Harris

St. Louis, March 31 - Vicorp Restaurants talked its $150 million of seven-year senior notes (B3/B) at the 10% area on Wednesday and added one year of call protection to the notes, according to a market source.

The deal is expected to price late Thursday.

JP Morgan and CIBC World Markets are joint bookrunners on the Rule 144A issue.

The call structure was revised from a previously announced three years of call protection.

Proceeds will be used to fund a dividend payment and repay debt.

The company is the Denver-based owner-operator of Village Inn and Bakers Square restaurants.

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