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England’s Wagamama talks £225 million secured notes in 4¼% area, pricing Wednesday
By Paul A. Harris
Portland, Ore., June 27 – Wagamama Ltd. talked its £225 million offering of five-year senior secured notes to yield in the 4¼% area, according to a market source.
The deal is expected to price on Wednesday.
Morgan Stanley & Co. International plc and KKR are managing the Rule 144A and Regulation S offer.
The notes come with 1.5 years of call protection.
The London-based restaurant chain specializing in Asian cuisine plans to use the proceeds to redeem all of Wagamama Finance plc’s £150 million of outstanding senior secured notes and to pay deferred interest on loan notes.
The issuing entity will be Wagamama Finance plc which, like Wagamama Ltd., is a wholly owned subsidiary of Mable Mezzco Ltd.
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