Our Finance Group helps clients navigate the business and legal complexities of novel and multidimensional debt financing transactions. We fully understand the challenges faced by borrowers, investors and lenders throughout a company’s lifecycle, from evolving techniques in acquisition finance to the tensions inherent in distressed situations. We are the firm of choice for the most innovative and complex financing matters, including bespoke structured financings and whole-business securitizations of novel assets and restructurings of multibillion-dollar companies.
Bojangles’ Completes $455 Million Whole-Business Securitization
- Client News
- November 3, 2020
Paul, Weiss represented Bojangles’ Famous Chicken ‘n Biscuits, an American regional chain of 750 restaurants in 11 states, in connection with its inaugural whole-business securitization. As part of the transaction, Bojangles Issuer LLC offered $40 million of Series 2020-1, Class A-1 Notes and $415 million Series 2020-1, Class A-2 Notes. The collateral included existing and future franchise and development agreements, existing and future company-operated restaurant royalties and profits, and intellectual property. Proceeds from the offered notes will be used to refinance its existing credit facilities, pay certain transaction expenses, and for general corporate purposes.
The Paul, Weiss team included corporate partners Jordan Yarett, Robert Zochowski and John Kennedy and counsel Mikhel Schecter, Evan Berman and Christopher Poggi; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; restructuring partners Kyle Kimpler and Alice Eaton; and tax partners David Mayo and Scott Sontag.