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Clients rely on our Finance Group to help them navigate the business and legal complexities of novel and multi-dimensional debt financing transactions. Our versatile finance practitioners work closely with our mergers and acquisitions, securities, tax, real estate and bankruptcy lawyers to provide seamless advice and innovative solutions that address our clients' debt financing needs related to all types of transactions and capital structures.
CKE Completes $180 Million Whole-Business Securitization Offering
- Client News
- June 24, 2021
Paul, Weiss advised CKE Restaurants Holdings, Inc., the owner, operator and franchisor of Carl’s Jr. and Hardee’s Jr. quick-service restaurants, in its fourth series issuance under its whole-business securitization. The transaction, backed by domestic and international franchise agreements along with royalties from real estate, franchisee licenses, IP and cash flow from some corporate-owned franchises, involved the issuance by Hardee’s Funding LLC and Carl’s Jr. Funding LLC of $180 million in additional fixed-rate senior secured notes, bringing the total amount of bonds outstanding under the securitization to over $1.1 billion.
The Paul, Weiss team included corporate partners Jordan Yarett and John Kennedy, and counsel Christopher Poggi, Mikhel Schecter and Philip Heimowitz; tax partner Lindsay Parks; restructuring partner Kyle Kimpler; and executive compensation counsel Jacob Glazeski.