Wingstop sets record for lowest yield in whole biz ABS

Wingstop 575 375
By Jennifer Kang
14 Oct 2020

Restaurant chain Wingstop has priced its latest ABS offering to yield 2.85%, making it the first ever whole business securitization to be printed with a two handle, with market watchers crediting tight ABS supply and Wingstop’s strong credit story.

WSTOP 2020-1, the second ABS deal from the Dallas-based chicken wing vendor, was originally marketed as a $400m offering but the bookrunners ultimately sold $480m of the bonds in response to the demand.

The offering of the class ‘A-2’ notes pulled in orders from more than 40 ...

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