Chick-fil-A’s PP sparks search for follow-up issuers

Chick-fil-A 575x375
By Silas Brown
10 Nov 2020

US fast food chain Chick-fil-A has issued a $1.7bn US private placement, according to market sources, in what is widely regarded as one of the tightest deals sold since the outbreak of coronavirus. Arrangers in London are looking for similar companies in Europe that could be tempted to issue.

JP Morgan and Wells Fargo brought Chick-fil-A to the market. There were $200m tranches at three, five, six, seven, eight and nine years, and a $500m tranche at 10 years, said two sources. The shorter dated clips were priced at 130bp over Treasuries, and the longer ones at ...

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