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GC Asia
Burger chain cooks up whole biz ABS
Fast food franchise company CKE Restaurants Holdings priced a $400m whole business securitization several points tighter than initial pricing thoughts. With Roark Capital as its sponsor, the transaction stands out among other brands for its reliable performance and name value, sources say.
CKE Restaurants Holdings saw the seven-year ‘A-2’ notes price at par with a coupon of 4%, just inside initial price thoughts, which predicted a number between 4.25% and 4.50%.
Barclays, Bank of America and Morgan Stanley were joint leads for this transaction, and the proceeds from the ...Already a subscriber? Login
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